Question 1 0 out of 1 points Incorrect

You owe $500.00 at 5 months and $700.00 at 15 months. You and your creditor agree you will make ONE cash settlement payment at 15 months, using a 12%(m) rate.

[A] What is the Cash Settlement Amount?

Round Final answer to the nearest penny/cent, Round Intermediate calculations to the nearest penny/cent, USE a dollar sign, USE a comma as a separator if and where needed, *remember: if NO focal point is stated, the default focal point is the settlement point

Specified Answer for: A [None Given]