Question
A payment of $14,000 is due in 1 year and $11,300 is due in 2 years. What two equal payments, one in 3 years and
A payment of $14,000 is due in 1 year and $11,300 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.
Round to the nearest cent
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Finance For Managers
Authors: E. Martinez Abascal
1st Edition
0077140079, 9780077140076
