CompuSystems was supposed to pay a manufacturer $19,000 on a date four months ago and another $14,000
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CompuSystems was supposed to pay a manufacturer $19,000 on a date four months ago and another $14,000 on a date two months from now. Instead, CompuSystems is proposing to pay $10,000 today and the balance in five months, when it will receive payment on a major sale to the provincial government. What will the second payment be if money is worth 6% compounded monthly?
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Let x represent the amount of the second payment For equivalence at a f...View the full answer
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Related Book For 
Fundamentals Of Business Mathematics In Canada
ISBN: 9781259370151
3rd Edition
Authors: F. Ernest Jerome, Jackie Shemko
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