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Marked out of 5.00 Flag question Give the answer to this question correct to the nearest rand. Thomas has an obligation to pay a sum
Marked out of 5.00 Flag question Give the answer to this question correct to the nearest rand. Thomas has an obligation to pay a sum of R7 000,00 three years from now. His creditor permits him to discharge the debt by paying R3 000,00 one year from now and a final payment of X 30 months from now. The interest rate charged on all amounts is 12,5% per year, compounded half-yearly. This is represented by the following timeline with the debt above the line and the payments below the line: R7000 3 4 years R3000 12,5% per year, compounded half-yearly What is the value of X? Select one: a. R2 990,00 b. R4 798,00 c. R3 505,00 d. R3 839,00
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