question $1$

A demand loan for $$3257\mathrm{.}43$ with interest at $5\mathrm{.}4\%$ compounded annually is repaid after $9$ years, $10$ months. What is the

amount of interest paid?

The amount of interest is $

$($Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.$)$

question $2$

Sheridan Service has a line of credit loan with the bank. The initial loan balance was $$8000\mathrm{.}00.$ Payments of $$3000\mathrm{.}00$

and $$3500\mathrm{.}00$ were made after four months and eight months respectively. At the end of one year, Sheridan Service

borrowed an additional $$4500\mathrm{.}00.$ Eight months later, the line of credit loan was converted into a collateral mortgage

loan. What was the amount of the mortgage loan if the line of credit interest was $6\%$ compounded monthly?

The amount of the loan is $

$($Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.$)$