Anne and frank smith each borrow $12,000 from their father. anne and mr. smith have agreed that she will repay her loan in full by paying $6,000 in two years and $8,000 in four years. frank prefers to make one lump payment of $15,000 to fully repay his loan. when should he make that payment so that he and his sister will each have the same effective interest rate?

S. you are changing planes in london for a flight to paris where you will connect with your flight to capetown. you are picking up reading material for the flight and are looking at the prices listed on the economist magazine which conveniently lists prices in several different global currencies. you note that the price in pounds is 2.40 pounds and the price in euros is 2 euros. the exchange rate for the dollar (your credit card was issued in the usa) is $1.59/pound and s1.3837/euro. should you buy reading materials now or wait until you're in paris?