Question
3. Fred was originally scheduled to repay a debt by making two payments-$300 due 1 month ago, and $800 due in 4 months. Instead, he
3. Fred was originally scheduled to repay a debt by making two payments-$300 due 1 month ago, and $800 due in 4 months. Instead, he renegotiates to pay $600 today and the balance in 7 months. How much will the balance be if the focal point is today and the interest allowed is 5%?
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Financial Algebra advanced algebra with financial applications
Authors: Robert K. Gerver
1st edition
978-1285444857, 128544485X, 978-0357229101, 035722910X, 978-0538449670
