Question
subject financial maths 5.In 2016, Danny signed an agreement to repay John $4000 in 1.5 years, $2500 in 3 years, and $1500 in 5 years.
subject financial maths 5.In 2016, Danny signed an agreement to repay John $4000 in 1.5 years, $2500 in 3 years, and $1500 in 5 years. Unfortunately, he couldnt make the 1st and second repayments and fortunately, John gave him extensions for both but charged interest. In 2020, Danny approached John and told him that he could make a single payment to settle all 3 debts. Find the size of the single payment if the interest rate is 4.86% p.a. compounded monthly. 10 marks Step 1. Draw timeline here: 2 marks
Step 2. Fill in blanks the values:4 marks
j = ____________; m = ____________; i = ____________; t = ____________;
n = ____________PV = ____________; FV = ____________
Step 3. Formula and Calculation: 4 marks
i dont know thats why m asking here.. pls do fast in which way you want to do just solve it. thnks
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