Do not give excel answer , i need explained answer. A payment of $5000 that was due 20 days ago and another payment of $4000 that is due 50 days from now are to be settled/replaced by a payment of $6000 today and a payment of $X 90- days from today. If r = 11%, what is the value of X using today as the focal date?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Do not give excel answer , i need explained answer. A payment of $5000 that was due 20 days ago and another payment of $4000 that is due 50 days from now are to be settled/replaced by a payment of $6000 today and a payment of $X 90- days from today. If r = 11%, what is the value of X using today as the focal date?
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