Noreen Leung has agreed to purchase her partners share in the business by making payments of $1100

Question:

Noreen Leung has agreed to purchase her partner’s share in the business by making payments of $1100 every three months. The agreed transfer value is $16 500 and interest is 10% compounded annually. If the first payment is due at the date of the agreement, what is the size of the final payment?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

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

Question Posted: