Question: When Dan signed a three-year contract as a managet, the company allowed reimbursement of $430 at the end of every month for his car expenses.

When Dan signed a three-year contract as a managet, the company allowed reimbursement of $430 at the end of every month for his car expenses. At the lime the contract was signed, money was worth 10.99% compounded monthly. (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 7 th payment? (a) The value was (Round to the nearest cent as needed. Round al intermediate values to sx decimal places as needed.) (b) The outstanding value is 5 (Round to the neacest cent as noeded. Found all intermediate values to six decimal places as noeded)

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