Question
a)Paul was due to make loan payments of $1,870 7 months ago, $1,951 5 months ago, and $1,232 in 9 months. Instead, he is to
a)Paul was due to make loan payments of $1,870 7 months ago, $1,951 5 months ago, and $1,232 in 9 months. Instead, he is to make a single payment today. If money is worth 7.61%, what is the size of the replacement payment?
***(Final answer should be rounded to two decimal places.)
b)
After the COVID-19 pandemic was over, Malika decided to go on a vacation and borrowed $2,520. If interest was charged on the loan at 5.2%, how much interest would she have to pay in 236 days?
***(Round to two decimal places otherwise Blackboard will mark as incorrect.)
c) Interest of $99 is earned at 7.05% on a deposit of $4,398 in how many days?
d)
Alley opened a bank account on April 16, 2020 and deposited $1,443. She earned simple interest of 1.41%. How much interest was earned and paid into Alleys account on November 1, 2020?
***(Round answer to two decimals, otherwise Blackboard will mark as incorrect.)
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