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You just borrowed money from your credit Union with the following terms. 3 years from today, you will payback $2,499, in 7 years from today,
You just borrowed money from your credit Union with the following terms. 3 years from today, you will payback $2,499, in 7 years from today, you will receive $2,381 from your credit union on the same loan, and in 9 years from today you will pay the bank $11,250 which is the remaining balance on the loan. If the interest rate is 3.05% p.a., find the size of the loan you will receive from the bank today. Question 3 1 pts A friend borrowed $5,942 from you 13 years ago, and agreed to pay interest at 5.59%. Since then, they have paid you back $3,000 11 years ago, $2,000 5 years ago, and $3,000 3 years ago. They cannot make a payment this year so you require them to pay the full remaining amount by next year. How much will they owe you in one year? (Round answers to 0.00 decimal places.)
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