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Payments of $1,550 in 1 year and another $2,700 in 4 years to settle a loan are to be rescheduled with a payment of
Payments of $1,550 in 1 year and another $2,700 in 4 years to settle a loan are to be rescheduled with a payment of $850 in 18 months and the balance in 30 months. Calculate the payment required in 30 months for the rescheduled option to settle the loan if money earns 6.35% compounded semi-annually during the above periods. Round to the nearest cent
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Business Math
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
10th edition
133011208, 978-0321924308, 321924304, 978-0133011203
