Question: I am having a hard time solving this 2 questions. 1. A debt of $4719.64 is due December 1, 2023. What is the value of

I am having a hard time solving this 2 questions.

1. A debt of $4719.64 is due December 1, 2023. What is the value of the obligation on December 1, 2016 ,if money is worth 3% compounded annually?

The value of the obligation is $?

rounded to nearest cent as needed.

2. For a sum of money invested at 6.9% compounded semi- annually for 5 years state the following:

a) the number of compounding periods

b) periodic rate of interest ( round to six decima places as needed)

c) tthe compounding factor is ( 1+ x) '

d) the numerical value of the compounding factor is " ?

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