Question
$4500 due three months ago but not paid and $2500 due in three months are to be replaced by a payment of $3000 in one
$4500 due three months ago but not paid and $2500 due in three months are to be replaced by a payment of $3000 in one month from now and two equal payments in two and four months from now. Find the equal payments if the interest rate is 4% percent annum. Use today as the focal date
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Financial Markets And Institutions
Authors: Anthony Saunders, Marcia Cornett
7th Edition
1259919714, 978-1259919718
