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Mary is the store owner of a franchise. In flipping through her records, she notices the following debts to the same supplier: $ 4 ,
Mary is the store owner of a franchise. In flipping through her records, she notices the following debts to the same supplier: $ due three months ago, $ due today, $ due in three months, and $ due in six months. She would like to clear all of these debts with a single payment next month. If the supplier charges compounded monthly on overdue balances and provides a credit of compounded monthly on early payments, calculate the amount of the payment.
For full marks your answers should be rounded to the nearest cent.
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