thematics 3. Brad plans to repay his student loan of $34, 000 by making equal annual payments over 3 years at 4.9% per year compounded annually. What is Brad's monthly payment? [3] R = (PV) [1-(1+i)] R= (PvX [1-(+)] 4. A lottery offers a prize of $1000 every week for 20 years. The first payment will be made a week from now. If the money can be invested at 3.5% per year compounded monthly. what cash payment received immediately is equivalent to the lottery prize? [3] A R[(1+i)-1] i