Find the equated date at which payments of $500 due six months ago and $600 due today

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Find the equated date at which payments of $500 due six months ago and $600 due today could be settled by a payment of $1300, if interest is 9% compounded monthly.

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 03:53 AM

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Find the equated date at which payments of $500 due six months ago and $600 due today

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Let the focal date be today i 075 00075 C Y 12 50000 10075 6 60000 130000 10...View the full answer

Contemporary Business Mathematics with Canadian Applications

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