A financial obligation requires the payment of $1000 in 2 months, $3000 in 8 months, and $4000

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A financial obligation requires the payment of $1000 in 2 months, $3000 in 8 months, and $4000 in 14 months. Instead, if a payment of $2000 is made now, when should a second payment of $6000 be made if interest is 9% compounded monthly?

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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 03:53 AM

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A financial obligation requires the payment of $1000 in 2 months, $3000 in 8 months, and $4000

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Contemporary Business Mathematics with Canadian Applications

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