Question
Two debts, the first of $600 due six months ago and the second of $1500 borrowed two years ago for a term of four years
Two debts, the first of $600 due six months ago and the second of $1500 borrowed two years ago for a term of four years at 7.1% compounded annually,are to be replaced by a single payment one year from now. Determine the size of the replacement payment if interest is 6.3% compounded quarterly and the focal date is one year from now.
What is the size of the replacement payment?
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Meetings Expositions Events And Conventions An Introduction To The Industry
Authors: George Fenich
5th Edition
0134735900, 9780134735900
