Payments of $1300 due five months ago and $1800 due three months from now are to be
Question:
Payments of $1300 due five months ago and $1800 due three months from now are to be replaced by a single payment at a focal date one month from now. What is the size of the replacement payment that would be equivalent to the two scheduled payments if money can earn 4 1 2 % ?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (10 reviews)
6 1800 12 10045 22 ...View the full answer
Answered By
Arshad Ahmad
Well, I am really new to tutoring but I truly believe a good student can be a better teacher. I have always been a topper at school. I passed my Chartered Accountancy at a very young age of 23, a rare feat for most of the students. I am really dedicated to whatever work I do and I am very strict regarding deadlines. i am always committed and dedicated to whatever work allotted to me and I make sure it is completed well within deadline and also I try to give my best in whatever I do. Hope we will have a good time studying together.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Business Mathematics In Canada
ISBN: 9781260065992
10th Edition
Authors: F. Ernest Jerome, Tracy Worswick
Question Posted:
Students also viewed these Mathematics questions
-
Show that for isentropic flow of a perfect gas if a Pitot-static probe measures p0, p, and T0, the gas velocity can be calculated from what would be a source of error if a shock wave were formed in...
-
To perform the division using synthetic division, we begin by writing the following. 3 x + 2)x + 4x + 2
-
Payments of $5000 due four months ago and $3000 due two months from now are to be replaced by a payment of $4000 today and a second payment in six months. What must the second payment be in order to...
-
Solve the initial-value problem = * sin f, y(-2) = dt
-
Who needs to interface with the master production schedule and why?
-
The system in Figure 5.45 oscillates about the equilibrium position denoted by the horizontal lines. The coil torsional springs are each undeformed when \(\theta_{1}=\theta_{2}=0\). If the link...
-
Regional Highway Transport is a large trucking company. Regional Highway Transport uses the units-of-production (UOP) method to depreciate its trucks. In 2009, Regional Highway Transport acquired a...
-
In the aftermath of a hurricane, an entrepreneur took a one-month leave of absence (without pay) from her $4,000 per month job in order to operate a kiosk that sold fresh drinking water. During the...
-
You have just been hired as a financial analyst for Lydex Company, a manufacturer of safety helmets. Your boss has asked you to perform a comprehensive analysis of the company's financial statements,...
-
The sales manager for a publisher of college textbooks has six traveling salespeople to assign to three different regions of the country. She has decided that each region should be assigned at least...
-
April missed a payment of $2740.00 on a loan with interest being charged at 4 1 2 % . The lender now wants $2755.20 as a late payment to settle up on the missed payment. How many days late was the...
-
Cyril can purchase a trip to Aruba for an early booking price of $2370.00 now or wait 190 days and pay $2508.79. What annual rate of return would money have to earn for the two options to be...
-
Electrical costs at one of Gotch Corporation's factories are listed below: Machine Hours Electrical Cost March ........ 3,731 $35,243 April .......... 3,728 35,248 May ........... 3,765 35,479 June...
-
During 2024, a company sells 389 units of inventory for $94 each. The company has the following inventory purchase transactions for 2024: Number of Unit Date January 1 May 5 Transaction Beginning...
-
Using the information in the image below, how do I set up a linear programming model for the project plan with these parameters Show how time and cost estimates play into the specification. In...
-
Barbara Jackson and Fred Harrin decide to organize the Wildhorse partnership. Jackson invests $15,300 cash and Harrin contributes $10,200 cash and equipment with a cost of $7,140 and accumulated...
-
A company can pay the fire insurance premiums on its factory either quarterly or annually. If paid annually, the premium is $3600, paid at the beginning of the year. If paid quarterly, there is a $30...
-
What are the pros and cons to automate employment benefits tasks and functions?
-
Madetoja Oy's job-costing system has two direct-cost categories: direct materials and direct manufacturing labour. Manufacturing overhead (both variable and fixed) is allocated to products on the...
-
Fahrad Inc. sells all of its product on account. Fahrad has the following accounts receivable payment experience: Percent paid in the month of sale .........10 Percent paid in the month after the...
-
Thad is planning to buy a rototiller next spring at an expected price of $579. In the current fall flyer from Evergreen Lawn and Garden, the model he wants is advertised at $499.95 in a Fall...
-
Evelyn put $15,000 into a 90-day term deposit at Laurentian Bank that paid a simple interest rate of 3.2%. When the term deposit matured, she invested the entire amount of the principal and interest...
-
Umberto borrowed $7500 from Delores on November 7, 2008. When Umberto repaid the loan, Delores charged him $190.02 interest. If the rate of simple interest on the loan was 6 %, on what date did...
-
21. Draw the Lewis structure of carbonate ion (CO32) showing all possible resonance structures if there are any. Determine the formal charge of each atom. 22. Draw the Lewis structure of ozone (O3)...
-
Vertical Adventures has an open line of credit with a zero balance at its credit union using a fixed interest rate of 7.15%. On the last day of every month, the accrued interest must be paid. On July...
-
4. Calculate the expected concentration of the sodium hydroxide solution. The molar mass of NaOH is 39.997 g/mol. 5. Calculate and record the expected mass of benzoic acid required to react with...
Study smarter with the SolutionInn App