Franklin owes the following amounts to the same person: $16,000 due today, $11,500 due in 1¼ years, $17,000 due in 2¾ years, and $15,000 due in 4¼ years. He wants to make a single payment of $56,500 instead. Using an interest rate of 8% compounded quarterly, when should this payment be made?

Mark just took out a loan from the bank for $3,700.00. He plans to repay this loan by making a special payment to the bank of $800.00 in 4 years and by also making equal, regular annual payments of X for 5 years. If the interest rate on the loan is 9.73 percent per year and he makes his first regular annual payment in 1 year, then what is X, Mark's regular annual payment? O $969.33 (plus or minus $1) O $824.76 (plus or minus $1) O $1,178.91 (plus or minus $1) $1,113.89 (plus or minus $1) O none of the answers are within $1 of the correct answer

H8.