Your grandparents deposited $5500 into a college savings account for you 3 years ago. If the account pays 2.5% annual interest, find the current balance of the
account if the interest is compounded quarterly.
A. $10,742.18
B. $5,926.98
D.
$11,384.39
C.
$5,922.90

Pamela has a 30-year, 5.75% mortgage on her $250,000 home. she has been paying on it for 5 years, and has recently hit some financial trouble. if her lender agreed to lower the interest rate on her $231,905.47 balance to 5.5%, what will her new payment be for the remainder of the loan?