Problem 1-8 Calculating Annual Payments [LO 3] What annual payment is required to pay off a four-year, $23,000 loan if the interest rate being charged is 13 percent EAR? What would the monthly payments be for the same loan assuming the same interest rate? Use Exh bit is 4 . (Round time value factors to 3 decimat places and final answers to the nearest dollar amount. Omit the " s" sign in your response.) Problem 1.4 Determining the Required Deposit [LO 3] If you want to have $24,000 in five years, how much do you have to deposit todoy if your itvestment earns a rate of 6 percent per annum? Use Exhibic 18-1. (Round time value facters to 3 decimal places and final answer to 2 decimal places. Omit the " 5 " sigs in your response.) Deposit 5