A financial agreement requires the payment of $1200 in 9 months, $1400 in 18 months, and $1600

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A financial agreement requires the payment of $1200 in 9 months, $1400 in 18 months, and $1600 in 30 months. When would an alternative single payment of $4000 have to be made if money is worth 7% compounded quarterly?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 03:51 AM

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A financial agreement requires the payment of $1200 in 9 months, $1400 in 18 months, and $1600

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Let the focal date be now I Y 7 C Y 4 i 175 00175 120000 10175 3 140000 10175 6 160000 10175 1...View the full answer

Contemporary Business Mathematics with Canadian Applications

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