Dandil owes two debt payments – a payment of $5652 that was due today and a payment of $1803 due in 13 months. If Greg makes a payment now of $1000 and another payment in 7 months, what would this payment be if money is worth 5.99% p.a. simple interest? Assume a focal date of 7 months.

Answer rating: 100% (QA)

To calculate the payment that Greg would need to make in 7 months to cover the remaining debt we f... View the full answer