Question
2. $1,000 was borrowed 3 months ago at 1% per month. Calculate how much will be owed at the end of next month. a. Draw
2. $1,000 was borrowed 3 months ago at 1% per month. Calculate how much will be owed at the end of next month.
a. Draw a Cash Flow Diagram that represents the problem statement.
b. Write the shorthand formula that uses the tables in the appendix and then use those same tables to calculate the value that is owed at the end of next month.
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Business Forecasting
Authors: John E. Hanke, Dean Wichern
9th edition
132301202, 978-0132301206
