1. 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 $

1. If your client's objective is to have $18,500 in three years, how much should he invest today in a product earning 5.0% compounded annually?(Do not round your intermediate calculations and round your final answer to the nearest cent.)

Required investment $

1. 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 $