Question
Mr. A borrows $2000 now and $3000 in 4 months. He agrees to pay $X in 6 months and $2X in 8 months (from now).
Mr. A borrows $2000 now and $3000 in 4 months. He agrees to pay $X in 6 months and $2X in 8 months (from now). Determine X using a focal date 8 months from now at simple interest rate r = 12%.
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Contemporary Financial Management
Authors: R. Charles Moyer, James R. McGuigan, Ramesh P. Rao
14th edition
1337090581, 978-1337090582
