Question
Phil owes $600 in 7 months with simple interest at 8% and $425 due in 14 months with simple interest at 10.5%. He has the
Phil owes $600 in 7 months with simple interest at 8% and $425 due in 14 months with simple interest at 10.5%. He has the option to repay the debt in one single payment in 9 months with simple interest at 6.25%. What is the value of the single payment if the focal date is on the day of this single payment?
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The Complete Personal Finance Handbook
Authors: Teri B Clark
1st Edition
160138047X, 978-1601380470
