Luis invested $209 for 21 months in a bank and received a maturity amount of $226.50. If he had invested the amount in a fund earning 1.50% p.a. more, how much would he have had received at maturity?

Round to the nearest cent

Brian's lawyer gave him the following two options to settle his invoice:

(a) $1,300.00 in 1 month and the balance of $2,100.00 in 3 months.

(b) Two equal payments, one in 38 days and the other in 6 months.

If money earned 5.10% p.a., what was the value of the equal payments in Option (b) such that it is equivalent to the payments in Option (a)? Use now as the focal date for this question.

Round to the nearest cent