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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Principles of Financial Accounting chapters 1-17
Authors: John Wild, Ken Shaw, Barbara Chiappetta
23rd edition
1259687740, 1259687747, 978-1259687747
