- You plan to purchase a car that has a cost of $42,100. You make a down payment of $4,000 and finance the rest over a period of 5 years. Your quoted annual rate is 7.30% compounded monthly. What will your monthly car payment be? Round to the nearest $0.01.

- How much must you donate today if you wish to establish a scholarship of $10,000 per year, forever Assume the proceeds can remain invested at an annual interest rate of 3.50%