A contractual arrangement requires payments of $1.25 million on 1 October 2021 and $2.25 million on 1 October 2023. Calculate an equivalent single amount payable on 1 April 2020 at an interest rate of 12% p.a. compounding half-yearly.<\/p>
<\/p>
Answer is $2,545,902.61. How?<\/p>", "transcribed_text": "", "related_book": { "title": "Ethical Obligations And Decision Making In Accounting Text And Cases", "isbn": "1264135947, 9781264135943", "edition": "6th Edition", "authors": "Steven Mintz", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/2022\/04\/62500bf9812ef_11362500bf943ad3.jpg", "uri": "\/textbooks\/ethical-obligations-and-decision-making-in-accounting-text-and-cases-6th-edition-9781264135943", "see_more_uri": "" }, "free_related_book": { "isbn": "B09VWC4DJZ", "uri": "\/textbooks\/the-ethical-decision-tree-a-rubric-from-the-tree-of-knowledge-of-good-and-evil-decisions-made-easy-1st-edition-979-8425239068-362241", "name": "The Ethical Decision Tree A Rubric From The Tree Of Knowledge Of Good And Evil Decisions Made Easy", "edition": "1st Edition" }, "question_posted": "2024-06-06 18:04:51", "see_more_questions_link": "\/study-help\/questions\/business-business-communication-2023-February-20", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/armynavy-surplus-began-march-2014-with-75-camping-stoves-that", "description": "Army-Navy Surplus began March 2014 with 75 camping stoves that cost $16 each. 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