The proprietor of Unica Hair Salon borrowed $9500 at 5% p.a. She agreed to settle the loan
Question:
The proprietor of Unica Hair Salon borrowed $9500 at 5% p.a. She agreed to settle the loan in two payments: one in six months and the other in nine months from the time of borrowing the loan. Calculate the amount of each payment, if the first payment is twice the amount of the second payment. Use nine months from now as the focal date.
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Related Book For 
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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