Question: When Dan signed a 2 year contract as a manager, the company allowed reimbursement of $ 390at the end of every month for his car

When Dan signed a 2 year contract as a manager, the company allowed reimbursement of $ 390at the end of every month for his car expenses. At the time the contract was signed, money was worth % compounded .

(a) What value did the expense reimbursement provision have when the contract was signed?

(b) What is the outstanding value of the reimbursement after the th payment?

(a) The value was $

nothing.

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

(b) The outstanding value is $

nothing.

(Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.

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