wo payments of $11,000 and $4,300 are due in 1 year and 2 years, respectively. Calculate the two equal payments that would replace these payments, made in 9 months and in 4 years if money is worth 10.5% compounded quarterly.
wo payments of $11,000 and $4,300 are due in 1 year and 2 years, respectively. Calculate the two equal payments that would replace these payments, made in 9 months and in 4 years if money is worth 10.5% compounded quarterly.
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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Two payments of $11,000 and $4,300 are due in 1 year and 2 years, respectively. Calculate the two equal payments that would replace these payments, made in 9 months and in 4 years if money is worth 10.5% compounded quarterly.
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