You want to buy a new Ducati Monster $696$ for $$78,000.$ The contract is in the form of a $60$ month annuity due at $7\mathrm{.}25\%$ APR. What will your monthly payment be$?$ The APR is compounded monthly.

B$.$ Assume the loan agreement calls for a principal reduction of $$8,400$ every year instead of equal annual payments. Rework the question