a) Joan has borrowed 14400 dollars at a nominal rate of interest of 7 percent convertible monthly. She has agreed to repay the loan with 36 equal monthly payments, the first coming one month after the loan is made. After making the 20th payment, she makes a deal with the lender where she'll pay off the balance owed on the loan with 24 more monthly payments. The lender agrees, provided that the yield rate on the ENTIRE LOAN is 9.4 percent convertible monthly. Under these new terms, how much is her last payment?

b) Schroeder borrows 8500 dollars from Peppermint Patty at an effective rate of 4.9 percent, and agrees to make 9 equal annual payments (the first one year later) to repay the loan. Immediately after she receives the 5th payment, Peppermint Patty sells the loan to Franklin at a price that will provide Franklin with a yield of 6.8 percent effective. How much does Franklin pay for the loan?

c) Fred takes out a loan from C'Ville Bank at a nominal rate of 10.5 percent convertible monthly, and agrees to repay the loan with 36 equal monthly payments, the first due a month after the loan is made. Immediately after making the 13th payment, C'Ville sells the loan to Richmond Bank for 2300 dollars. If Richmond Bank's yield on the loan is 15 percent convertible monthly, how much did Fred originally borrow?