Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 08, 2024

Justin was supposed to pay Marcus $6,000 6 months ago and $2,040 in 5 months. If he wants to repay this amount with two payments

Justin was supposed to pay Marcus $6,000 6 months ago and $2,040 in 5 months. If he wants to repay this amount with two payments of $3,800 today and the balance amount in 3 months, calculate the balance amount. Assume interest is 3.30% p.a. and the agreed focal date is 3 months from now.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions

Question

Historians and archeologists have typically paid great attention to mens lives, whereas they often ignore contributions made by women. True or False

Answered: 1 week ago

Question

★★★★★

A portfolio consists of the following four stocks. What is the expected return of theportfolio? Current Expected Return Stock Market Value s 180,000 145,000 452,000 223,000 $1,000,000 8% 10 12

Answered: 1 week ago

Question

★★★★★

Consider the Newton - Raphson ( NR ) algorithm applied to the function f ( x ) plotted below. Answer the questions below based on the portion of the function shown in the plot a ) Give an approximate...

Answered: 1 week ago

Question

★★★★★

Ozuna Company uses a job-order costing system with a plantwide predetermined overhead rate based on direct labor-hours. For job costing purposes, it uses an average direct labor wage rate of $20 per...

Answered: 1 week ago

Question

★★★★★

What should the employer focus on when responding to a government unemployment agency inquiry regarding the reason for separation? Group of answer choices The manager's notes of things that occurred...

Answered: 1 week ago

Question

★★★★★

The professional football club, Highbury Academicals, is considering acquiring a highly successful German international footballer. The transfer fee will be 42m, half of which is payable immediately...

Answered: 1 week ago

Question

★★★★★

Alexandria is evaluating an idea to open her own business. The initial investment is estimated to be $100,000. The investment horizon is 5 years. She will use a 5-year straight-line depreciation...

Answered: 1 week ago

Question

★★★★★

identify ARB (4x4 company) international strategy What are the positive and negatives of their internationalization strategy what would you do diffrently?

Answered: 1 week ago

Question

★★★★★

Quarter Demand (units) 1 2,300 2 2,400 3 2,600 4 2,100 Beginning Inventory 200 units Inventory holding cost $10 per unit at end of quarter Hiring workers $4 per unit Firing workers $8 per unit unit...

Answered: 1 week ago

Question

★★★★★

The rational number 22/7 has been used as an approximation to the number since the time of Archimedes. First, show that: L x(1-x)4 1+x dx = 22 7 - . We will now use properties of this integral to see...

Answered: 1 week ago

Previous Question Next Question