a) You obtain a loan of $800 at 14.5% interest. On January 27th, you needed $831.90 to settle the debt. When was the loan obtained? Use the bankers rule.

b) How much money would you have to pay now to settle debts of $1200 due in ten days and $3100 due in 3 weeks if the daily interest rate is 0.35%? Use today as the focal date. Draw an appropriate diagram.