Jane was due to make loan payments of $1659 nine months ago, $3455 three month ago, and $685 in three months. Instead, she is to make a single payment today if money is worth 8.7% and the agreed focal date is today, what is the size of the replacement payment?
Jane was due to make loan payments of $1659 nine months ago, $3455 three month ago, and $685 in three months. Instead, she is to make a single payment today if money is worth 8.7% and the agreed focal date is today, what is the size of the replacement payment?
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 15P
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