Question
A woman owes $4000. She and her creditor agree that she can pay $2000 now and the balance in 6 months. Find the payment in
A woman owes $4000. She and her creditor agree that she can pay $2000 now and the balance in 6 months. Find the payment in 6 months if the settlement is based on an interest rate of 16% and the focal date is 6 months hence.
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Intermediate Financial Management
Authors: Eugene F. Brigham, Phillip R. Daves
8th Edition
0324258917, 9780324258912
