Question
A debt of $2000 due in five years and $7000 due in seven years is to repaid by a single payment three years from now.
A debt of $2000 due in five years and $7000 due in seven years is to repaid by a single payment three years from now. If the interest rate is 8% compounded quarterly, how much is the payment?
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Accounting Volume 2
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
2nd Canadian edition
176501452, 978-0176501457, 978-0176509743
