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A property developer has a contract with a builder to make 2 progress payments of $50,000 2 months from now and $75,000 6 months from
A property developer has a contract with a builder to make 2 progress payments of $50,000 2 months from now and $75,000 6 months from now. A final payment of S100,000 is due 12 months from now. The contract was revised after construction delays were experienced. There will instead be two equal payments 8 months and 12 months from now. What should these payments be if no penalty was included and an interest rate of 8.2% pa. compounded monthly applies? 10. (a) S139,334.70 (b) $115,825.84 $112,500.00 $126,231.12 $114,248.37 (c) (d) (e)
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