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Q) A contractual arrangement requires payments of $14,000 on 7 October 2019 and $7,000 on 7 October 2024. What is an equivalent single amount payable

Q) A contractual arrangement requires payments of $14,000 on 7 October 2019 and $7,000 on 7 October 2024. What is an equivalent single amount payable on 7 October 2026 at an interest rate of 12% p.a. compounding quarterly?

a. $39,730.34 b. $26,602.17 c. $24,644.53 d. $40,898.38

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