Question
A payment of $2,600 is due in 2 years and $3,800 is due in 4 years. These two original payments are to be rescheduled with
A payment of $2,600 is due in 2 years and $3,800 is due in 4 years. These two original payments are to be rescheduled with a payment of $2,050 in 1 year and the balance in 3 years. Calculate the payment required in 3 years for the rescheduled option. Assume that money earns 3.75% compounded semi-annually.
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How To Read A Financial Report Wringing Vital Signs Out Of The Numbers
Authors: John A. Tracy , Tage C. Tracy
9th Edition
1119606462,1119606489
