Marisol must pay 73,000 within nine months and 104,300,000 within 14 months. What is the equivalent time

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Marisol must pay 73,000 within nine months and 104,300,000 within 14 months. What is the equivalent time if the interest rate is 1.25% monthly, compounded each month?

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Engineering economy

ISBN: 978-0073376301

7th Edition

Authors: Leland Blank, Anthony Tarquin

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Posted Date: Apr 19, 2024 07:42 AM

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Marisol must pay 73,000 within nine months and 104,300,000 within 14 months. What is the equivalent time

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To find the equivalent time for the two payments we can use the concept of the time v... View the full answer

Engineering economy

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