Please answer questions

5. On January 1, 1985, Marc has the following two Options for repaying a loan: (i) Sixty monthly payments of $100 commencing February 1, 1985. 1. A single payment of $6000 at the end of K months. Interest is at a nominal annual rate of 12% compounded monthly. The two options have the same present value. Determine K. 6. Esteban borrows $20,000, and the loan is governed by compound interest at an annual effective interest rate of 6%. Esteban agrees to repay the loan by making a payment of $10,000 at the end of T years and a payment of $12,000 at the end of 2T years. Find T