Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A smart watch for marathon training was purchased for $ { A } on { B } 1 5 th , 2 0 1 9

A smart watch for marathon training was purchased for ${A} on {B}15th,2019 with an agreement to pay ${C} on {D}15th,2020 and a final payment of ${E}. In how many months (from the {D} payment) should the final payment be made if interest is {F}% compounded annually? Let the focal date be {B}15th,2020. Your final value (in months) may be rounded to two decimal places. Hint: ONLY count months in this problem (you do not need to consider the number of days in each month).
{A}{B}{C}{D}{E}{F}
$1,130 October $579 April $6345.50%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Foundations Of Personal Finance

Authors: Sally R. Campbell, Robert L. Dansby

9th Edition

1619603578, 9781619603578

More Books

Students also viewed these Finance questions

Question

A credit is used to record:

Answered: 1 week ago

Question

ABC JIT KPI

Answered: 1 week ago