Question: Hello Tutor, please I need help with 2 questions i cant solve 1) Joan borrowed $3000 today with the understanding that she would repay the

Hello Tutor, please I need help with 2 questions i cant solve

1) Joan borrowed $3000 today with the understanding that she would repay the loan in two payments: $1600 in one year and a second payment of $1700. If interest is 8% compounded quarterly, when should the second payment be made?

2) A contract requires payments of $4000 today, $5000 in three years, and $6000 in five years. When can the contract be fulfilled by a single payment equal to the sum of the required payments if money is worth 9% p.a. compounded monthly?

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