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business mathematics:simple interest and applications

If money earns 6.54% compounded quarterly, what single payment in two years would be equivalent to a payment of $2,950 due three years ago, but not paid, and $500 today? Case Part 1: Chapter 8 Two co-workers went into a lottery pool together and won a $100,000 prize. They split the prize evenly between them. Each decided to do different things with their winnings. After reading the descriptions below, determine who has more money in 3 years' time and how much more. Worker A had taken out a $20,000 personal loan two years ago, at a rate of 8.0% p.a.. The loan is due today, so Worker A decides to use part of the winnings to pay off this loan in full. The remainder of the winnings is invested in an account that will earn 0.17% p.m. for the next three years. Worker B uses $25,000 of his share to pay for his children's tuition fees (he has several children that just started post-secondary studies). The remainder is split into two equal investments. One half goes into an account that pays 6.4% p.a. and the other half will earn 0.0078% per day. Both of these investments will last for three years. If money earns 6.54% compounded quarterly, what single payment in two years would be equivalent to a payment of $2,950 due three years ago, but not paid, and $500 today? Case Part 1: Chapter 8 Two co-workers went into a lottery pool together and won a $100,000 prize. They split the prize evenly between them. Each decided to do different things with their winnings. After reading the descriptions below, determine who has more money in 3 years' time and how much more. Worker A had taken out a $20,000 personal loan two years ago, at a rate of 8.0% p.a.. The loan is due today, so Worker A decides to use part of the winnings to pay off this loan in full. The remainder of the winnings is invested in an account that will earn 0.17% p.m. for the next three years. Worker B uses $25,000 of his share to pay for his children's tuition fees (he has several children that just started post-secondary studies). The remainder is split into two equal investments. One half goes into an account that pays 6.4% p.a. and the other half will earn 0.0078% per day. Both of these investments will last for three years

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