1. Compute the present value of a debt of $708.13 eighty days before it is due if money is worth 5.3%.
2. When Edgar borrowed $2300, he agreed to repay the loan in two equal payments, to be made 90 days and 135 days from the day the money was borrowed. If interest is 9.25% on the loan, what is the size of the equal payments if a focal date of 'date of issue' is used?
3. What is the future value of a $230 promissory note if issued on July 18, 2013, at 7.5% for 101 days?
4. Mr. Doss borrowed $15,000 on August 12. He paid $6000 on November 1, $5000 on December 15, and the balance on February 20. The rate of interest on the loan was 10.5%. How much did he pay on February 20th?
5. The maturity value of a seven-month promissory note issued July 31, 2009 is $3275. What is the present value of the note on the date of issue if interest is 7.75%?