Given the following information about a loan of $1000 at 16%:

• on January 8 , Alex borrows a loan of $1000
• on April 12, he pays $350
• on August 10, he pays $20
• on October 3, he pays $400

What is the balance due on December 15 using The Merchant's Rule and exact time?

• 1328

• 327.67

• 1400

A credit unions Rate-Climber GIC pays rates of 3.8%, 4.3%, and 4.8% compounded semiannually in successive years of a three-year term. What will be the maturity value of $30,000 invested in this GIC? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Maturity value $