Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Six months ago , Emily borrowed $ 1 5 0 0 from Alex and planned to oya back in three payments. The payments were to
Six months ago Emily borrowed $ from Alex and planned to oya back in three payments. The payments were to be made in and months after borrowing the money Each payment include the principal of $ and annual simple interest at the rate of from the date of agreement. Today Emily is asking Alex to accept the sum of two months from now instead of remaining debr. What should be the amount of this lump sum payment?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started