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Question 9: (Value 5 marks) Teresita has three financial obligations to the same person: $2700 due in 1 year, $1900 due in 121 years, and
Question 9: (Value 5 marks) Teresita has three financial obligations to the same person: $2700 due in 1 year, $1900 due in 121 years, and $1100 due in 3 years. She wishes to settle the obligations with a single payment in 21/4 years, when her inheritance will be released from her mother's estate. What amount should the creditor accept if money can earn 6% compounded quarterly? Use 21/4 years from now as the focal date. Show all work below: This question involves three separate sets of calculator inputs. If you use a calculator, show your inputs for all three sets. If you prefer to use formulas, then show all your calculations in the space below. You may want to draw a timeline but it is not mandatory
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