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Draw a timeline in your notes, then use the one below to help you! Ordering stock from a large company requires the payment of $4600
Draw a timeline in your notes, then use the one below to help you! Ordering stock from a large company requires the payment of $4600 in nine months, and $3700 in fourteen months at 3.8% interest, compounded quarterly. The full balance is refinanced and settled with a single payment of $8500. Choose a focal date of 14 months from now. f.d. 14 mo today 9 mo ? 36 mo $3,700 $8,500 $4,600 n = ? IY = ? CY = ? n2 = ? FV PV When should the single equivalent payment be made? Select one: O a. 14.845883 months from now O b. 18.774141 months from now O c. 15.591380 months from now O d. 13.154117 months from now
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