1. Dinero Bank offers you a five-year loan for $58,000 at an annual interest rate of 6.25 percent. What will your annual loan payment be? (Do not round intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.) Annual loan payment $

2. You are considering opening a new restaurant in downtown Chicago that even Gordon Ramsay would be proud of. You estimate that it will initially cost $4,300,000 to open up the restaurant. You expect it to produce continuous cash inflows are $550,000, $970,000, $2,600,000, and $654,000 a year over the next four years What is the ordinary payback period for this project?