A debt of $12 000 was replaced with two payments. If $7500 was paid in two years,

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A debt of $12 000 was replaced with two payments. If $7500 was paid in two years, when should a second payment of $7500 is made if interest compounds at 8% quarterly?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 03:53 AM

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A debt of $12 000 was replaced with two payments. If $7500 was paid in two years,

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Let the focal date be now I Y 8 C Y 4 i 8 4 2 002 12 00000 750000 102 8 7500...View the full answer

Contemporary Business Mathematics with Canadian Applications

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