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When you purchased an item on credit, you agreed to the following plan: an initial payment of $825,000 and three payments of $1'320,000, $1'480,000 and
When you purchased an item on credit, you agreed to the following plan: an initial payment of $825,000 and three payments of $1'320,000, $1'480,000 and $2'060,000 at three, six and ten months respectively, and an interest rate of 36.5% TV. After five months you pay three-fourths of the balance at that time and the remainder four months later. Determine the value of each of these two payments. Please do as much detail as possible and I will gladly leave my like.
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