Question
Caroline borrowed $7,500.00 at 2.00% p.a. She wants to settle this loan with 2 equal payments, one in 3 months and another in 15 months.
Caroline borrowed $7,500.00 at 2.00% p.a. She wants to settle this loan with 2 equal payments, one in 3 months and another in 15 months. Determine the size of the payments using 'now' as the focal date. Include a well-labelled timeline as part of a complete solution. Round to two decimal places
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Public Finance A Contemporary Application Of Theory To Policy
Authors: David N Hyman
12th Edition
0357442156, 978-0357442159
