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Joeseph owns V-tech. In order to pay off their most recent invoice, V-tech is scheduled to pay $750 today and $1500 in 11 months. Due
Joeseph owns V-tech. In order to pay off their most recent invoice, V-tech is scheduled to pay $750 today and $1500 in 11 months. Due to a decrease in their sales, Joeseph has chosen to renegotiate the payments. The invoice will be settled by a payment of $1000 in 9 months and a final payment 15 months from now. Determine the size of the final payment if interest is 7% p.a. compounded quarterly.
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