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solve these compound interest questions 5. Debt payments of $6 050.00 due five months ago and $1000 due in two months are to be settled
solve these compound interest questions
5. Debt payments of $6 050.00 due five months ago and $1000 due in two months are to be settled by two equal payments due now and three months from now respectively. Determine the size of the equal payments now, at 12% p.a. compounded monthly. [9 marks] 6. Trina opened a deposit account on December 1, 2016 with a deposit of $2000. She added $3000.00 on September 1 2018 and will add $ 6000 on December 1, 2019. How much will be in the account on June 1, 2022 if the deposit earns 12% compounded monthly? [12 marks] Find the proceeds of the following promissory notes: 1. A $5200 non-interest bearing note due November 1, 2022 discounted on February 1, 2018 at 12% compounded monthly marks] [10 2. A fifteen -year promissory note dated April 1 2010 with a face value of $9300 bearing interest at 13% compounded semi-annually, discounted 11 years later when money was worth 15% compounded quarterly. [12 marks] Step by Step Solution
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