Girard owes two debt paymentsa payment of $5000 due in 6 months and a payment of $6000

Question:

Girard owes two debt payments—a payment of $5000 due in 6 months and a payment of $6000 due in 15 months. If Girard makes a payment of $5000 now, when should he make a second payment of $6000 if money is worth 11% compounded semi-annually?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

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

See More Books

Question Posted: Feb 26, 2016 03:53 AM

See More Questions

Matt had agreed to make two payments a payment of $2000 due in nine months and a payment of $1500 in a year. If Matt makes a payment of $1800 now, when should he make a second payment of $1700 if...
Assume that you are nearing graduation and that you have applied for a job with a local bank. As part of the banks evaluation (interview) process, you have been asked to take an exam that covers...
Donnelly Excavating has received two offers on a used backhoe that Donnelly is advertising for sale. Offer 1 is for $10,000 down, $15,000 in 6 months, and $15,000 in 18 months. Offer is for $8000...
A company sells four types of gift packages. The cost per unit and demand for each package type is shown in the table below. A fixed cost of $1,000 is also incurred for each different type of gift...
Construct the null and the alternative hypotheses for the following tests: a. Test if the mean weight of cereal in a cereal box differs from 18 ounces. b. Test if the stock price increases on more...
Evaluate the companys product lines massimo bread. Do you think the companys product lines are consistent or not? Explain why.
Solve the following boundary value problem: \[y^{\prime \prime}(x)=f(x), \quad y(0)=0, \quad y(1)=0\] Hence solve $y^{\prime \prime}(x)=x^{2}$ subject to the same boundary conditions.
During the 1980s, most of the worlds supply of lysine was produced by a Japanese company named Ajinomoto. Lysine is an essential amino acid that is an important livestock feed component. At this...
If two trading partners suddenly become entangled in a trade war, what impact will this have on each nation? Explain.
Hitachi Data Systems Corporation provides information technology (IT) infrastructure, analytics, content, and cloud solutions and services to its customers. Its products include storage systems,...
At what nominal rate of interest com- pounded quarterly will $300 earn $80 interest in six years?
A debt of $12 000 was replaced with two payments. If $7500 was paid in two years, when should a second payment of $7500 is made if interest compounds at 8% quarterly?
For each of the following ground-state atoms, predict the type of orbital (1s, 2p, 3d, 4f, etc.) from which an electron will need to be removed to form the +1 ions: (a) Zn; (b) Cl; (c) Al; (d) Cu.
Suppose one of GP Manufacturings executives typically uses the payback as a primary capital budgeting decision tool and wants some payback information. a. What is the projects payback period? b. What...
Table 1 contains the complete cash flow analysis based on GP Manufacturings basic information. Explain the inputs into 1) the net initial investment outlay at year 0, 2) the depreciation tax savings...
A marketing analyst is asked to build a simulation for a new product launch. The new product's net profit= sales volume * (sales price - unit cost) - fixed costs The analyst's market research has...
work 3 ework 3 ork 3 K K As a result of winning the Gates Energy Innovation Award, you are awarded a growing perpetuity. The first payment will occur in a year and will be for $10,000. You will...
Here is the ledger for Sunland Company. Oct. 6 Oct. 1 8,200 Oct. 4 Oct. 10 2,180 Oct. 12 Oct. 10 9,200 Oct. 15 Oct. 20 880 Oct. 30 Oct. 25 3,200 Oct. 31, Accounts Receivable Oct.4 Cash Oct. 20 1,100...
Solve the given problems. In solving the equation 7 (2 x) = x + 2, what conclusion can be made?
14. In testing the existence assertion, an auditor ordinarily works from the a. Financial statements to the accounting records. b. General journal to the general ledger. c. Supporting evidence to the...
Make an amortization table to show the first two payments for the mortgages in Exercises 1 - 6. See Example 1. mount of mortgage S406,515 Annual interest rate 5% Years 35 Monthly payment $2.052.90...
Justin Wimmer is financing $169,700 for a home at 5.25% interest with a 20-year fixed-rate loan. Find the interest paid and principal paid for each of the first two months of the loan and find the...
Heike Drechsler is financing $84,700 for a home in the mountains. The 17-year fixed-rate loan has an interest rate of 6%. Create an amortization schedule for the first two months of the loan?
sked byChina699 BEMIDJI STATE UNIVERSITY Department of Technology, Art & Design TADT 3217 : Materials Science & Metallurgy Hardness Testing [A continued look at the Heat Treatment of Steel] ...
1. Advocate Aurora Sheboygan Memorial Hospital health care product or service to be marketed in your community. 2. Conduct appropriate market research in your community to determine the demographics...
How do ethical leaders integrate ethical considerations into strategic decision-making processes, balancing short-term business objectives with long-term ethical imperatives to ensure sustainable...

Girard owes two debt paymentsa payment of $5000 due in 6 months and a payment of $6000

Question:

Step by Step Answer:

Let the focal date be now i 55 0055 C Y 2 500000 1055 1 600000 1055 25 500000 600000 1055 ...View the full answer

Contemporary Business Mathematics with Canadian Applications

Students also viewed these Finance questions