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In order to pay off the most recent invoice, a company is scheduled to pay $2000 today and $1500 in 6 months. Due to a
In order to pay off the most recent invoice, a company is scheduled to pay $2000 today and $1500 in 6 months. Due to a decrease in sales, the company has chosen to renegotiate the payments. The invoice will be settled by a payment of $1000 in 3 months and a final payment 12 months from now. Determine the size of the final payment if interest is 6% p.a. compounded quarterly.
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