Girard owes two debt paymentsa payment of $5000 due in 6 months and a payment of $6000

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Girard owes two debt payments—a payment of $5000 due in 6 months and a payment of $6000 due in 15 months. If Girard makes a payment of $5000 now, when should he make a second payment of $6000 if money is worth 11% compounded semi-annually?

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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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Girard owes two debt paymentsa payment of $5000 due in 6 months and a payment of $6000

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Let the focal date be now i 55 0055 C Y 2 500000 1055 1 600000 1055 25 500000 600000 1055 ...View the full answer

Contemporary Business Mathematics with Canadian Applications

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