You recently borrowed $70,000 to start a new business. You plan on making payments every month for 12 years until you repay the loan. If the interest rate on your loan is 3.8%, what are your monthly payments? Submit your answer in dollars and round to two decimal places (Ex. $00.00).

Your car has been making funny noises lately and you decide to start saving up for a new one. You want to buy your new car outright and estimate that you will need at least $24,000 to do so. If you put $10,000 into an account earning 9.79%, compounded annually, how many years will it take you to raise the estimated $24,000? Round to the nearest year.