Question
Joe has a personal debt owing to his father as well. He was supposed to make a payment of $2,100 6 months ago and $3,250
Joe has a personal debt owing to his father as well. He was supposed to make a payment of $2,100 6 months ago and $3,250 today. Instead He made a payment 3 months ago for $2,975 and will pay the balance in 3 months. What is the amount of the final payment Joe will make in 3 months if money is worth 6% and the agreed upon focal date was 3 months ago?
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Microeconomics
Authors: Robert Pindyck, Daniel Rubinfeld
8th edition
978-0132870436, 132870436, 013285712X, 978-0133371178, 133371174, 978-0132857123
