A $2,300 payment due 1½ years ago has not been paid. If money earns 6.25% compounded semi-annually, what amount in two years from now would be the economic equivalent to the missed payment during the intervening time?
A school class is washing cars on Saturday to earn $200 for a charity drive. The students collect a donation of $6.50 for each car they wash. The students have washed 28 cars. How many more dollars do they need to earn to reach their goal?