What annual payment is required to pay off a four$-$year, $$29,000$ loan if the interest rate being charged is $7$ percent EAR? Use Exhibit $1$B$-4.$

Use your calculator to solve the above problem and show that the results are the same.

Using your calculator, what would the monthly payments be for the same loan assuming the same interest rate? $($note that exhibit $1$B$-4$ does not have the required period to use for this section of the problem