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Emman is indebted to Lisa the following obligations (a) $14,000 due at the end of 3 years with accumulated Interest at 4% compounded quarterly and
Emman is indebted to Lisa the following obligations (a) $14,000 due at the end of 3 years with accumulated Interest at 4% compounded quarterly and (b) $16,000 due at the end of 6 years with accumulated Interest at 7% annually.
Emman is allowed to replace these obligations by two payments. The first payment due at the end of 4 years and the second payment due at the end of 5 years. If the second payment is twice as much as the other payment. Find the payments if the money is 8% compounded quarterly
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