ents of $979 due one year ago and $1435 due in five years are to be replaced by two equal payments. The first replacement payment is due in three years and the second payment is due in nine years. Determine the size of
ents of $979 due one year ago and $1435 due in five years are to be replaced by two equal payments. The first replacement payment is due in three years and the second payment is due in nine years. Determine the size of
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 17P
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7
Scheduled payments of $979 due one year ago and $1435 due in five years are to be replaced by two equal payments. The first replacement payment is due in three years and the second payment is due in nine years. Determine the size of the two replacement payments if interest is 1.9% compounded quarterly and the focal date is three years from now
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