Question
Loan payments of $1,600 due 220 days ago and $900 due 70 days ago are to be replaced by a payment of $1,000 today and
Loan payments of $1,600 due 220 days ago and $900 due 70 days ago are to be replaced by a payment of $1,000 today and the balance 90 days from today. If money is worth 4% p.a. and the agreed focal date is 90 days from today , what is the size of the final payment?
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
10th edition
133052311, 978-0133052312
