11. Mike was due to make loan payments of $750 3 months ago, $500 today, and $300 in 5 months. He has agreed instead to make a single payment two months from today. If money is worth 7% and the agreed focal date is one month from today, what is the size of the replacement program?

12. Two amounts owing from the past were to be paid today. One debt was $620 from one year ago and the other was $925 from six months ago. Determine the single payment today that would fully repay the debts. Allow for simple interest at 12%.

13. Determine the amount of money that must be invested for 245 days at 5.75% to earn $42.46