An investment that has a maturity value of $3,400 and is discounted 5 years and 6 months before maturity at 4.80% compounded semi-annually.

a. Calculate the discounted value of the investment.

Round to the nearest cent

b. Calculate the amount by which the money is discounted.

3

Angela is expected to settle a loan on May 23rd, 2019 by paying $3,000. What amount should he pay if he decides to settle it on June 14th, 2018 instead? The interest rate is 3.44% compounded semi-annually.