Round up to 4 decimal place for intermediate steps. Round to two decimal places for the final answers.

I am using a financial calculatore to solve the following problems:

7 You want to borrow $64,800 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,480, but no more. Assuming monthly compounding, what is the highest rate per year you can afford on a 78-month loan? 8 Today a running back signed a 5 year contract. The contract called for $4.8 million immediately and a salary of $3.5 million in 1 year, $9.5 million in 2 years, $10 million in 3 years, $9.4 million in 4 years and, and $10.5 million in 5 years. If the appropriate interest rate is 7.6%, what is the worth of this deal to the player? Assume all payments other than the first $4.8 million are paid at the end of the year. Put answer in million $. E.g., $27.6 million as 27.6. 9 You are planning your retirement in 10 years. You currently have $158,000 in a bond account. You plan to add $10,100 per year at the end of each of the next 10 years to your bond account. The bond account will earn a return of 7 percent. When you retire, you plan to withdraw an equal amount for each of the next 25 years at the end of each year and have nothing left. Additionally, when you retire you will transfer your money to an account that earns 6 percent. How much can you withdraw each year in your retirement? bond account The bond account will am areturn of 7 percent. When you retire, you plan