Two debts, the first of $1100 due nine months ago and the second of $1700 borrownd one year ago for a term of four years at 6.9% compounded annuall, are to be replaced by a single payment one year...


Two debts, the first of $1100 due nine months ago and the second of $1700 borrownd one year ago for a term of four years at 6.9% compounded annuall, are to be<br>replaced by a single payment one year from now. Determine the sze of the replacement payment if interest is 6.1% compounded quarterly and the focal date is one<br>year from now.<br>The size of the replacement payment is S3159.34<br>(Round to the nearest cent as needed. Round all intemediate values to six decimal places as needed.)<br>

Extracted text: Two debts, the first of $1100 due nine months ago and the second of $1700 borrownd one year ago for a term of four years at 6.9% compounded annuall, are to be replaced by a single payment one year from now. Determine the sze of the replacement payment if interest is 6.1% compounded quarterly and the focal date is one year from now. The size of the replacement payment is S3159.34 (Round to the nearest cent as needed. Round all intemediate values to six decimal places as needed.)

Jun 07, 2022
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