Can you please help to guide me through problem 3? Since the $5,000 would be paid at the beginning of the month, would this be an Annuity Due? How would we calculate

I know we need to convert the 25 years to months to calculat number of pymts and to weeks to calculate t.

I. Chapter 1. Problem 1. [6 pts]. James earns $4500 monthly income. His rent is $950.00 per month, his other bills are $250.00 per month, and his car loan requires a $580 per month. a) If James's food cost $450 per week and he estimates other additional expenses to be $335 per month, how much he will have left each month to reach his financial goals? b) James is considering buying a new car instead of the old one. His new car loan will be $875 per month, and the insurance will increase by $145.80 per month. James estimates that his other-related expenses will remain the same. What is the opportunity cost if James purchases the new car? (Show your calculations) Problem 2. [6 pts]. Herman has received a gift of $4500 for his graduation, increasing his net worth by $4500. If he uses the money to purchase a computer, how will his net worth be affected? If he invests the $4500, instead, at 5% interest per year compounded monthly, what will it be worth in one year? How will his net worth be affected in one year? (Show your calculations) Problem 3. [6 pts]. Andre won a lottery and was given the following choices: He could either take $5,000 at the beginning of each month for 25 years, or a lump sum of $1,450,000 today. Assuming weekly compounding at approximately what interest rate (per year) would he be indifferent between the two choices? (Show your calculationssuggestion: you can use financial calculator to solve this problem, make sure to show your inputs)