Question: 1. If the amount payable in two years is $2,372 for a simple loan at 4 percent interest, what is the loan amount (in $)?

1. If the amount payable in two years is $2,372 for a simple loan at 4 percent interest, what is the loan amount (in $)? Round your answer to at least 2 decimal places.

2. For a 7-year simple loan of $10,000 at 6.9 percent, what is the amount to be repaid (in $)? Round your answer to at least 2 decimal places.

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