Project Project B 30,000 20,000 10,000 3. Mike is buying a $12,375 car with a $3000 down payment, followed by 36 monthly payments of $325 each. The down payment is paid immediately, and the monthly payments are due at the end of each month. Draw a cash flow diagram. What nominal annual interest rate is Mike paying? What effective interest rate by monthly, annually, semiannually, quarterly, daily? (20 pts) 4. Determine the future worth of 20 quarterly lease payments of $500 at an interest rate of 8%. (20 pts) A B C $600.0 $500.0|$200.0 Cost Uniform annual benefit 158.3 138.7 58.3