What annual payment is required to pay off a four-year, $30,000 loan if the interest rate being charged is 6 percent EAR? What would the monthly payments be for the same loan assuming the same interest rate? Use Exhibit 1B-4. (Round time value factors to 3 decimal places and final answers to the nearest dollar amount. Omit the "$" sign in your response.)

1.262 is the from the Exhibit