A loan payment of $1000 was due 60 days ago, and another payment of $1200 is due

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A loan payment of $1000 was due 60 days ago, and another payment of $1200 is due 30 days from now. What single payment 90 days from now will pay off the two obligations if interest is to be 8% and the agreed focal date is 90 days from now?

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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 03:40 AM

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A loan payment of $1000 was due 60 days ago, and another payment of $1200 is due

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Contemporary Business Mathematics with Canadian Applications

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