Payments of $1300 due today and $1800 due in 1 years are to be replaced by

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Payments of $1300 due today and $1800 due in 1 ¾ years are to be replaced by a single payment 4 years from now. What is the amount of that payment if money is worth 6% compounded quarterly?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Jan 20, 2016 07:21 AM

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Payments of $1300 due today and $1800 due in 1 years are to be replaced by

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Step 1 Value of 1300 after 4 years PV 130000 r64 15000 n 4 years 4 16 FV PV1rn Where ...View the full answer

Business Mathematics In Canada

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