Problem 1. A car is rented for $600 per month. Calculate the equivalent rent per year if the interest rate is 32.0% per year compounded quarterly. Problem 2. Evaluate which of the following two options is more economical based on the present worth analysis with an interest rate of 10% per year. Alternative: Initial cost ($) = Annual cost (S/yr) = Salvage value ($) = Lifetime (years) = X 20,000 8,000 0 Y 40,000 2,000 $25,000 12 00