1) Two payments of $11,000 and $3,200 are due in 1 year and 2 years, respectively. Calculate the two equal payments that would replace these payments, made in 9 months and in 4 years if money is worth 7% compounded quarterly.

Round to the nearest cent

2)What is the value today of $6,500 that is due in3^(1/5) years, if the interest rate is 4.72% compounded semi annually?

( 3 years, with an exponent of 1/5th)- 3 years and one fifth )