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1. Two debts, the first of $600 due three months ago and the second of $1000 borrowed two years ago for a term of four

1. Two debts, the first of $600 due three months ago and the second of $1000 borrowed two years ago for a term of four years at 3.5% compounded annually, are to be replaced by a single payment one year from now. Determine the size of the replacement payment if interest is 2.6% compounded quarterly and the focal date is one year from now.

2. What is the principal that will grow to $4700 in four years, two months at 8% compounded semi-annually?

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