Question
John owes the bank $7000 now and $7000 in 11 years. They reach an agreement that both amounts can be paid by a single payment
John owes the bank $7000 now and $7000 in 11 years. They reach an agreement that both amounts can be paid by a single payment 4 years from now. Calculate the size of the payment, if interest is 8% and the focal date is 4 years from now.
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Personal Finance Building Your Future
Authors: Robert Walker, Kristy Walker
2nd Edition
0077861728, 9780077861728
