A real estate developer offers to sell you some prime real estate for $453,000 today. You agree to pay $204,000 in exactly 7 months and the remaining balance in exactly 21 months from today when you expect to receive some cash from a different investment. How much will you need to pay the developer in 21 months if the interest rate is 14.1% per annum compounding monthly (rounded to the nearest dollar; don’t show a $ sign or commas)?   

Answer rating: 100% (QA)

The amount which is required to be paid to the developer is 3973726 The a... View the full answer