You are considering buying a condo in Boston for $750000. You plan to make a down payment of $75000 and finance $675000 with a 30 year loan. If the interest rate is 4.75%, what is the monthly payment, assuming you'll pay the mortgage at the end of every month. An author just signed a lucrative contract with a publisher that offers to pay her the amount of $700 at the end of year 5 when the book is scheduled to be released. The author, being profligate, desires to receive a different package: an immediate payment of $100 that is followed by an annuity (an equal amount) to be paid at the end of each year for 5 consecutive years. What annuity will make his package equivalent to the publisher's advance. Use an interest rate is 8%