Water usage at stone wash jeans plant in Tennessee has been increasing uniformly for the last 60 months. If the water bill in month 1 was $4,000 and increased by $25 per month through month 60, determine the future worth of the water usage at an interest rate of 3/4% per month. Mary Smith took a car loan of $12,000 to make 60 monthly payments at a nominal interest rate of 12% on the understanding that the interest rate may be changed sometime in the future. Compute The monthly payment for Mary. The loan balance immediately after the 24th payment. The monthly payment for the remainder of the loan if the interest rate is reduced to 9%