Question
Payments of $700 due three months ago and $1000 due six months from now are to be replaced by one equivalent payment four months from
Payments of $700 due three months ago and $1000 due six months from now are to be replaced by one equivalent payment four months from now. What is the size of this single payment if money can earn 7% p.a.?
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Money Banking And Financial Markets
Authors: Stephen Cecchetti, Kermit Schoenholtz
6th Edition
1260226786, 9781260226782
