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Debts of $30851 due 2 years ago and $42154 due in 14 months from today are to be replaced with a payment of $50000 in
Debts of $30851 due 2 years ago and $42154 due in 14 months from today are to be replaced with a payment of $50000 in three months from toady and the remaining amount in 9 months from today. Determine the size of the unknown payment needed to clear the debts if money is worth 6.2% compounded quarterly. Use 9 months from today as a focal date and draw a timeline if needed.
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