1 carl just took out a loan from the bank for 95371 dollars, Ask an Expert

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1. Carl just took out a loan from the bank for 95,371 dollars. He plans to repay this loan by making a special payment to the bank of 13,451 dollars in 2 months and by also making equal, regular monthly payments of X. If the interest rate on the loan is 0.86 percent per month, he makes his first regular monthly payment later today, and he makes his last regular monthly payment made in 6 months from today, then what is X, the amount of the regular monthly payment?

2. An investment, which is worth 32,000 dollars and has an expected return of 13.88 percent, is expected to pay fixed annual cash flows for a given amount of time. The first annual cash flow is expected in 1 year from today and the last annual cash flow is expected in 9 years from today. What is the present value of the annual cash flow that is expected in 6 years from today?

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