Jane was due to make loan payments of $1933 eight months ago, $3002 three month ago, and $426 in four months. Instead, she is to make a single payment today. If money is worth 8.1% and the agreed focal date is today, what is the size of the replacement payment? The replacement payment is S (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Jane was due to make loan payments of $1933 eight months ago, $3002 three month ago, and $426 in four months. Instead, she is to make a single payment today. If money is worth 8.1% and the agreed focal date is today, what is the size of the replacement payment? The replacement payment is S (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Chapter16: Working Capital Policy And Short-term Financing
Section: Chapter Questions
Problem 14P
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