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Mandy was due to make loan payments of $3,000 2 years ago from today, $1900 one year ago from today and $5,000 in five years
Mandy was due to make loan payments of $3,000 2 years ago from today, $1900 one year ago from today and $5,000 in five years from today. Instead she will make one single payment today. If money is worth 9.8% simple interest and the agreed focal date is today, what is the size of the payment she needs to make today?
Use six decimal places for any intermediate calculations and round the final answer to 2 decimal places. (e.g., $0.00)
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