Question
Debts of $800 due today and $900 due in 27 months are to be repaid with 2 equal payments, 1 year and 2 years from
Debts of $800 due today and $900 due in 27 months are to be repaid with 2 equal payments, 1 year and 2 years from today. If the interest rate is 9% compounded quarterly, find the size of the payments. Use 2 years as the focal date.
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Finance Applications And Theory
Authors: Marcia Cornett, Troy Adair, John Nofsinger
6th Edition
1264101589, 9781264101580
