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QUESTION: Anna was supposed to pay Luis $4,900, 6 months ago, and $760, 5 months from now. If she wants to reschedule these payments with
QUESTION: "Anna was supposed to pay Luis $4,900, 6 months ago, and $760, 5 months from now. If she wants to reschedule these payments with two payments, one payment of $3,700 today and the balance 3 months from now, calculate the balance amount. Assume that the simple interest charged is 4.25% p.a. and the agreed focal date -is 3 months from now." ------------------------------------------------ I keep getting this: 2072.69 However, it is marked as incorrect. ------------------------------------------------- Any help is appreciated!
Anna was supposed to pay Luis $4,900, 6 months ago, and $760,5 months from now. If she wants to reschedule these payments with two payments, one payment of $3,700 today and the balance 3 months from now, calculate the balance amount. Assume that the simple interest charged is 4.25% p.a. and the agreed focal date is 3 months from now. 2072.69 Round to the nearest centStep by Step Solution
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