For a sum of money invested at 13% compounded quarterly for 23 years, state:

a.) The number of compounding periods.

n = _____

b) The periodic interest rate (i).

i =___% Round to two decimal places

c.) The numerical value of the compounding factor (1 + i)^n.

Round to six decimal places. ______

2)

Shamrock Inc. was supposed to receive a payment of $15,000, 5 years ago, and $4,000, 2 years ago, from a customer who could not make either payment as scheduled. If the customer would like to settle both payments today, what amount would he have to pay Shamrock Inc. if interest of 3.78% compounded semi-annually is charged? Use 'today' as the focal date.

Round to the nearest cent