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CompuSystems was supposed to pay manufacturer $19,000 on a date 4 months ago. CompuSystems is proposing to pay $10,000 today and the balance in 5
CompuSystems was supposed to pay manufacturer $19,000 on a date 4 months ago. CompuSystems is proposing to pay $10,000 today and the balance in 5 months, when it will receive payment on a major sale to the government. Assuming that the manufacturer requires 18% per year compounded monthly on overdue accounts. What should the second payment be?
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