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Mr. Joyful owes $2803 now and $3904 in 9 months. After re-arrangement of payments, he agreed to pay $X in 14 months and $2X in

Mr. Joyful owes $2803 now and $3904 in 9 months. After re-arrangement of payments, he agreed to pay $X in 14 months and $2X in 21 months from now. Determine the value of $X with j12=6.3% per annum.

a.

$5228.91

b.

$2398.81

c.

$2394.13

d.

$2573.53

Clear my choice

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