question 16 and 17

Your uncle is about to retire, and he wants to buy an annuity that will provide him with $57,000 of income a year for 20 years, with the first payment coming immediately. The going rate on such annuities is 5.25%. How much would it cost him to buy the annuity today? $827,207.28 $856,488.95 $732,041.84 $915,052.30 Pace Co. borrowed $30,000 at a rate of 7.25%, simple interest, with interest paid at the end of each month. The bank uses a 360-day year. How much interest would Pace have to pay in a 30-day month? $157.69 $141.38 $181.25 $212.06 $155.88