Question
Please explain this, thank you! Bart Just purchased a security for $17,000. This security will pay him $8,500 two years from today, $9,000 6 years
Please explain this, thank you!
Bart Just purchased a security for $17,000. This security will pay him $8,500 two years from today, $9,000 6 years from today and another payment of $X 10 years from today. Find the payment (X) that he will receive at year 10 if the interest rate is 6% and Bart will make one more payment of 3,000 4 years from today.
Answer Format:
ENTER YOUR ANSWER AS A POSITIVE NUMBER
INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "$" "," or any other formatting. Carry computations to at least 4 decimals and round your final answer to 2 decimal places.
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