Payments of $400 due eight months ago and $650 due three months ago were not made. Now
Question:
Payments of $400 due eight months ago and $650 due three months ago were not made. Now the debtor is proposing to “make good” by two future payments that provide for a 7.5% compounded monthly rate of return to the creditor on the missed payments. The first payment will be made in two months. The second payment, twice as large as the first, will be made in seven months. Determine the amount of each payment.
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In 2020, I started tutoring students online to offer alternative aid to their studies during covid-19 pandemic. Since I have been working from home, I have spent the few hours left after job to offer tutorial services to statistics and mathematics students at a small fee. 3 students turned to 5, 5 turned to 10 students and the number kept growing. The students loved the sessions and currently the number stands at 6000 students distributed globally. I have doubled the tutoring hours to effectively cover the students' needs and my general availability to address students tasks.
I have done sessions on " decision making and problem solving" for IT students as support services to other discipline.