Ramon wishes to replace payments of $900 due today and $500 due in 22 months by a

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Ramon wishes to replace payments of $900 due today and $500 due in 22 months by a single equivalent payment 18 months from now. If money is worth 5% compounded monthly, what should that payment be?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Sep 21, 2024 08:01 AM

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Ramon wishes to replace payments of $900 due today and $500 due in 22 months by a single equivalent payment 18 months from now. If money is worth 5% compounded monthly, what should that payment be?
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Ramon wishes to replace payments of $900 due today and $500 due in 22 months by a

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Business Mathematics In Canada

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