Question
A woman borrowed $3000 to be paid after 1 1/2 years with interest at 12% compounded semiannually and $5000 to be paid after 3 years
A woman borrowed $3000 to be paid after 1 1/2 years with interest at 12% compounded semiannually and $5000 to be paid after 3 years at 12% compounded monthly. What single payment must she pay after 3 1/2 years at an interest rate of 16% compounded quarterly to settle the two obligations? ANS= 12627.59 (?)
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
3rd Edition
9780078025525, 9780077517359, 77517350, 978-0077398194
