Not use excel Q)Payments of $1,700 in 1 year and another $2,100 in 5 years to settle a loan are to be rescheduled with a payment of $1,000 in 21 months and the balance in 36 months. Calculate the payment required in 36 months for the rescheduled option to settle the loan if money earns 5.05% compounded quarterly during the above periods.
Not use excel Q)Payments of $1,700 in 1 year and another $2,100 in 5 years to settle a loan are to be rescheduled with a payment of $1,000 in 21 months and the balance in 36 months. Calculate the payment required in 36 months for the rescheduled option to settle the loan if money earns 5.05% compounded quarterly during the above periods.
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
Problem 17P
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Not use excel
Q)Payments of $1,700 in 1 year and another $2,100 in 5 years to settle a loan are to be rescheduled with a payment of $1,000 in 21 months and the balance in 36 months. Calculate the payment required in 36 months for the rescheduled option to settle the loan if money earns 5.05% compounded quarterly during the above periods.
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