Gerry the Gardener owed $4000 on his purchase of a new heavy-use lawn mower for his business.
Question:
Gerry the Gardener owed $4000 on his purchase of a new heavy-use lawn mower for his business. He repaid $1500 in 9 months, $2000 in 18 months, and the remaining amount owed in 27 months. If interest is 10% compounded quarterly, what is the amount of the final payment?
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I Y 10 C Y 4 i 104 25 0025 Balanceafter 9 months PV 400000 n 3 FV 4000001025 3 4000001076891 430...View the full answer
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