Engineering economy

1. [10] Your roommate is a liberal arts major, so your roommate is clueless about finance and economics. Your roommate has a loan that charges a nominal 1.5% per month, compounded monthly. What is the annual equivalent interest rate? 2. [20] Xor friend is also a liberal arts major and is buying a car. Therefore, she cannot compute her monthly car loan payments, and needs your help. The car loan is for a $10,000 car, with payments over 5 years at an APR of 6%. What are her monthly car loan payments