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Payment of $903 due 2 months ago and $459 due today are to be repaid by a payment of $400 one month from today and
Payment of $903 due 2 months ago and $459 due today are to be repaid by a payment of $400 one month from today and the balance in 8 months from now. If money is worth 6% compounded monthly, and the agreed focal date is 8 months from today. What is the size of the final payment?
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
10th edition
133052311, 978-0133052312
