Q1: Terry was supposed to pay $750 to Becky on March 1. At a later date, Terry paid Becky an equivalent payment in the amount of $845.29.

If they provided for a time value of money of 8% compounded monthly, on what date did Terry make the payment?

Q2: What monthly compounded nominal rate would put you in the same financial position as 3.5% compounded semiannually?

Q3: How long will it take an investment to triple if it earns 8.7% compounded annually?

(Itwill triple in ______years and _____months.)