Two debt payments, the first for $800 due today and the second for $600 due in nine

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Two debt payments, the first for $800 due today and the second for $600 due in nine months with interest at 10.5% compounded monthly, are to be settled by a payment of $800 six months from now and a final payment in 24 months. Determine the size of the final payment if money is now worth 9.5% 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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