Question
Chuck was supposed to make a payment of $550 3 months ago and another payment of $750 a month ago. The two payments are to
Chuck was supposed to make a payment of $550 3 months ago and another payment of $750 a month ago. The two payments are to be replaced by two equal payments 1 month from now and 7 months from now respectively. The interest agreed is 9.8% p.a. and the focal date is 1 month from now. What is the size of the equal payments?
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Investing All In One
Authors: Eric Tyson
1st Edition
1119376629, 978-1119376620
