You hold an annuity that pays $24,000 at the end of each year for 5 years. The on going interest rate on the annuity is 4.5%. Now you are thinking selling this 5-year annuity and use the proceeds to buy a longer torm annuity. Assume the interest rate on the new annuity due is the same and ignore the transaction fees. If you can accept annual payment of $10,306 at the end of each year, how many annual payment can you expect from the longer annuity? Select one: O a 15 Ob 14 c. 13 O d. 10 Suppose Community Bank offers to lend you $10,000 for one year at a nominal annual percentage rate of 19.50%, but you must make interest payments at the end of each quarter and then pay off the $10,000 principal amount at the end of the year. What is the effective annual rate on the loan? Select one: 19.71% 15.94% 22.02% 20.97%