A $2,200 loan at 6.7% was repaid by two equal payments made 30 days and 60 days after the date of the loan. Determine the amount of each payment. Use the loan date as the focal date.(Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.)

An agreement stipulates payments of $5500, $4000, and $6500 in two, four, and six months, respectively, from today. What is the highest price an investor will offer today to purchase the agreement if he requires a minimum rate of return of 4.00%?(Do not round intermediate calculations and round your final answer to 2 decimal places.)

Maximum price$__________

A $5900 payment due 1 1/2 years ago has not been paid. If money can earn 3.70% compounded annually, what amount paid 2 1/2 years from now would be the economic equivalent of the missed payment?(Round your answer to 2 decimal places.)

Equivalent payment$____________

Jake purchased a $25,000 100-day T-bill discounted to yield 1.23%. When he sold it 45 days later, yields had dropped to 1.17%. How much did Jake earn?(Do not round intermediate calculations and round your final answer to 2 decimal places.)

Jake earned$__________

On February 1, 2014, Selma purchased a $69,000 compound-interest CSB. The interest rate on the CSB was 1.30% for each of the first two years and 2.770% for the third year. What was the total interest earned on the CSB by the time Selma redeemed the bond on April 1, 2016?(Do not round the intermediate calculations. Round your answer to the nearest cent.)

Total interest earned $__________

For an investment to triple in value during a 25-year period,

a.What annually compounded rate of return must it earn?(Do not round intermediate calculations and round your final answer to 2 decimal places.)

Annually compounded rate of return%

b.What quarterly compounded rate of return must it earn?(Do not round intermediate calculations and round your final answer to 2 decimal places.)

Quarterly compounded rate of return%

c.What monthly compounded rate of return must it earn?(Do not round intermediate calculations and round your final answer to 2 decimal places.)

Monthly compounded rate of return%

If an invoice indicates that interest at the rate of 0.65% per month will be charged on overdue amounts, what effective rate of interest will be charged?(Round your final answer to 2 decimal places.)

Effective rate%__________