Question 1

Scheduled payments of $718 due two years ago and $1347 due in four years are to be replaced by two equal payments. The first replacement payment is due in two years and the second payment is due in seven years. Determine the size of the two replacement payments if interest is 9.6% compounded semi-annually and the focal date is two years from now.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)

Question 2)

Find the proceeds of a promissory note with a maturity value of $2900 due on May 31, 2024, discounted at 4.8% compounded quarterly on May 31, 2020.

(Round to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)

Question 3)

Payments of$1000, $1200, and$1500 are due in sixmonths, eighteenmonths, and thirty months fromnow, respectively. What is the equivalent single payment two years from now if money is worth9.6% compoundedquarterly?

Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)