a)

A $10,000 loan is to be amortized for 10 years with quarterly payments of $349.72. If the interest rate is 7%, compounded quarterly, what is the unpaid balance immediately after the sixth payment? (Round your answer to the nearest cent.)

b)

Find the present value of an annuity due that pays $3000 at the beginning of each quarter for the next 6 years. Assume that money is worth 5.4%, compounded quarterly. (Round your answer to the nearest cent.)