Problem $1$:

City of Budget Rouge $($State of Finansiana$)$ has purchased a used specialized anti$-$terror truck. It must pay the seller $$13,571\mathrm{.}12$ at the end of each month for the next five years.

Questions:

$1.$ If Budget Rouge can borrow at $5\mathrm{.}5\%$ annually, what is the effective price paid for the truck in today$$s dollars?

$2.$ Calculate the repayment schedule on this loan.