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A loan is to be paid by installments of $8001-month from now, $600 3-months from now, and $5004 months from now. Instead of this payment
A loan is to be paid by installments of $8001-month from now, $600 3-months from now, and $5004 months from now. Instead of this payment scheme, the borrower wishes to make one single payment 2 months from now. What is the amount of the alternative single payment using a focal date of 3 months and r=6% ? A. $1890.55 B. $1905.51 C. $1896.03 D. $1901.00
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