Two payments of $15,000 and $6,800 are due in 1 year and 2 years, respectively. Calculate the two equal payments that would replace these payments, made in 6 months and in 5 years if money is worth 9% compounded quarterly. 1000 Round to the nearest

Two payments of $15,000 and $6,800 are due in 1 year and 2 years, respectively. Calculate the two equal payments that would replace these payments, made in 6 months and in 5 years if money is worth 9% compounded quarterly. 1000 Round to the nearest

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter1: Understanding Personal Finance

Section1.4: Perform Time Value Of Money Calculations

Problem 3CC

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Two payments of $15,000 and $6,800 are due in 1 year and 2 years, respectively.
Calculate the two equal payments that would replace these payments, made in 6
months and in 5 years if money is worth 9% compounded quarterly.
$0.00
Round to the nearest c

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