Question
A payment of $12,000 is due in 1 year and $10,300 is due in 2 years. What two equal payments, one in 3 years and
A payment of $12,000 is due in 1 year and $10,300 is due in 2 years. What two equal payments, one in 3 years and one in 4 years would replace these original payments? Assume that money earns 4.25% compounded quarterly. Use the focal date in 4 years.
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert Hughes
4th Edition
0256147175, 978-0256147179
