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Question 13 (1 point) A loan of $12,000 was repaid together with interest of $3,679. If interest was 8.4% compounded quarterly, how long was the loan taken out? Round up to the nearest month. 3 years 3 years 6 months 3 years 3 months 3 years 5 months 2 years 11 months Question 14 (1 point) Marina wishes to invest $10,000 for a period of 5 years. Which of the following investments would be best for him? 6.5% compounded quarterly 6.7% p.a. simple interest 6.25% compounded monthly 6% compounded daily 6.75% compounded annually How much will a registered retirement savings deposit of $21,500 be worth in 14 years at 3.79% compounded monthly? $36,725.65 $36,548.65 $36,518.42 $12,658.00 $22,470.42 Question 18 (3 points) Word Problem Question 2: (You have to submit an image of your FULL solution to the question in eConestoga -> Course Tools -> Assignments [Midterm Submission]) Payments of $400 due 3 months ago and $800 due 8 months from now are to be replaced by one equivalent payment four months from now. What is the size of this payment if money can earn 4% simple interest. Round your answer to two decimals. Do not round intermediate steps. Do not include the dollar sign ($) in your answer. For example, $25.63 input as 25.63. Your Answer: Answer Question 19 (4 points) Word Problem Question 3: (You have to submit an image of your FULL solution to the question in eConestoga -> Course Tools -> Assignments [Midterm Submission]) A loan (promissory note) of $5,200 was made. It is to be paid back in 2 years with interest of 7.40% compounded quarterly. What would be the appropriate price to pay for the contract 12 months after the original contract date to yield the buyer 7.35% compounded semi-annually? Round you final answer to two decimals. Do not round intermediate steps. Do not include the dollar sign ($) in your answer. For example, $89.36 input as 89.36. Your Answer: Answer Question 20 (3 points) Word Problem Question 4: (You have to submit an image of your FULL solution to the question in eConestoga -> Course Tools -> Assignments (Midterm Submission]) A loan of $17,400 today is to be repaid by 2 equal payments due in 3 years and 4 years respectively. Determine the size of the equal payments at 5.65% compounded monthly. Round your final answer to two decimals. Do not round intermediate steps. Do not include the dollar sign ($) in your answer. For example, $89.36 input as 89.36. Your Answer: Answer Question 2 (1 point) What principal will earn $310.25 simple interest at 8.75% from November 5, 2019 to February 10, 2020? $13,849.56 $13,556.69 $13,342.12 $10,235.98 $13,481.10 Question 8 (1 point) What payment is required to pay off a loan of $1,860 at 8.25% simple interest thirteen months later? $3,854.85 $1,563.25 $2,026.24 $2,225.66 $2,159.89