Please solve and show all work, steps, and equations used. Please write out all of the steps and please do not use Excel as your primary way of solving.

Captain Kirk and his first mate Scottie have borrowed $500,000 at 8% stated interest per year to purchase a Sea Ray 450 Sedan Bridge Yacht. If the loan calls for ten equal annual payments, with is the amount of each payment? On their maiden voyage, Captain Kirk stepped below to grab a cold one. Temporarily in charge, Scottie accidentally drove the yacht into the Shelby Street Bridge causing $35,000 damage, paid upon return to the dock. The repairs will take the boat out of service for the. next 12 weeks. The hapless duo hopes to recoup their losses by selling tickets that will take unsuspecting MBA students on a cruise along the Cumberland River. The cruises will leave every Thursday afternoon beginning 12 weeks from today and they expect 100 students to buy tickets each week. How much should they charge per ticket if they expect to book 25 cruises when their annual opportunity cost of capital (EAR) is 8% per year.

2. (a) Captain Kirk and his first mate Scottie have borrowed $500,000 at 8% stated interest per year to purchase a Sea Ray 450 Sedan Bridge Yacht. If the loan calls for ten equal annual payments, with is the amount of each payment? (b) On their maiden voyage, Captain Kirk stepped below to grab a cold one. Temporarily in charge, Scottie accidentally drove the yacht into the Shelby Street Bridge causing $35,000 damage, paid upon return to the dock. The repairs will take the boat out of service for the next 12 weeks. The hapless duo hopes to recoup their losses by selling tickets that will take unsuspecting MBA students on a cruise along the Cumberland River. The cruises will leave every Thursday afternoon beginning 12 weeks from today and they expect 100 students to buy tickets each week. How much should they charge per ticket if they expect to book 25 cruises when their annual opportunity cost of capital (EAR) is 8% per year