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Boris is scheduled to pay $1000 that he borrowed with 8.5% interest 7 months from now. He also has a loan payment of $1350 overdue
Boris is scheduled to pay $1000 that he borrowed with 8.5% interest 7 months from now. He also has a loan payment of $1350 overdue 6months ago. He wants to settle both obligations with 3 equal payments today, 9 months from now and 1 year from now at 10% interest. If the focal date is 1 year from now, what is the size of the equal payments?
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