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Nik will be making a payment to Anna 6 years from now that is equivalent in value to a $2,550 payment due in 2 year(s)
Nik will be making a payment to Anna 6 years from now that is equivalent in value to a $2,550 payment due in 2 year(s) and a $7,150 payment due 10 years from now. What is the amount of the payment if the value of money is 2.9%, compounded quarterly? Round your final answer only to 2 decimal places. Full marks for the correct answer. If your answer is not correct you may get part marks but to do so you must show your work. Your Answer: Your Rough Work: AJ
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