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Payments of $1,200 originally scheduled to be paid today, $1,800 due 24 months from today and $2,400 due 36 months from today are to be
Payments of $1,200 originally scheduled to be paid today, $1,800 due 24 months from today and $2,400 due 36 months from today are to be replaced with a single payment 6 months from now. Using 7% compounded quarterly as the rate of return money can earn, what payment 6 months from now would be would be equivalent to the three scheduled payments
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Personal Financial Planning
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
14th edition
978-1305887725, 1305887727, 1305636619, 978-1305636613
