Question
Loan payments of $1735 due today, $520 due in 75 days, and $665 due in 323 days are to be combined into a single payment
Loan payments of $1735 due today, $520 due in 75 days, and $665 due in 323 days are to be combined into a single payment to be made 115 days from now. What is that single payment if money is worth 8.5% p.a. and the focal date is 115 days from now?
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Step 1 Given that current loan payment1735 due in 75 days520 due in 323 days665 focal date 115 days ...Get Instant Access to Expert-Tailored Solutions
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Fundamentals of Investments, Valuation and Management
Authors: Bradford Jordan, Thomas Miller, Steve Dolvin
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