1. Debt payments of $4,750 and $6,700 are due 3 months from now and 9 months from now respectively. What single payment is required to pay off the debt today if interested is 8%.?

[8 marks]

2. A loan payment of $8,550 was due 45 days ago and a payment of $6000 is due in 40 days. What

single payment made 30 days from now is required to settle the two payments if interest is 4% and the agreed focal date 30 days from now. [10 marks]

3. Debts of $900 due 2 months ago and $6000 due today are to be paid by payments of $500 in two

months and a final payment in five months. If 9% interest is allowed and the focal date is 5 months from now, what is the size of the final payment? [10 marks]