Please explain the steps for the solution

Please explain the steps for the solution

x You received no credit for this question in the previous attempt. On September 1, 2021, Susan Chao bought a motorcycle for $22,000. She paid $1,000 down and financed the balance with a five-year loan at an annual percentage rate of 6.4 percent compounded monthly. She started the monthly payments exactly one month after the purchase (i.e., October 1, 2021). Two years later, at the end of October 2023, Susan got a new job and decided to pay off the loan. If the bank charges her a 1 percent prepayment penalty based on the loan balance, how much must she pay the bank on November 1, 2023? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) ( You received no credit for this question in the previous attempt. A well-known financial writer argues that he can earn 148 percent per year buying wine by the case. Specifically, he assumes that he will consume one $10 bottle of fine Bordeaux per week for the next 12 weeks. He can either pay $10 per week or buy a case of 12 bottles today. If he buys the case, he receives a 9 percent discount and, by doing so, earns the 148 percent. Assume he buys the wine and consumes the first bottle today. What is the EAR of this deal. (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)