FREE Trial

A loan payment of $2200 was due 91 days ago, and another payment of $1800 is due 45 days from

Question:

A loan payment of $2200 was due 91 days ago, and another payment of $1800 is due 45 days from now. What single payment 75 days from now will pay off the two obligations if interest is to be 9% and the agreed focal date is 75 days from now?

This problem has been solved!


Do you need an answer to a question different from the above? Ask your question!

Step by Step Answer:

Answer rating: 66% (9 reviews)

Let the size of the single payment be Sx The foca…View the full answer


answer-question
Answered By
tutor-profile-image
Sandip Nandnawar
I am a B.E (Information technology) from GECA and also have an M.C.M from The University of RTMNU, MH. I worked as a software developer (Programmer and TL). Also working as an expert for the last 6 years and deal with complex assessment and projects. I have a team and lead a team of experts and conducted primary and secondary research. I am a senior software engg and senior expert and deal with all types of CSE and IT and other IT-related assessments and projects and homework.
5.00+ 1+ Reviews 10+ Question Solved
Related Book For  answer-question
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

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

See More Books
View Solution
Create a free account to access the answer
Cannot find your solution?
Post a FREE question now and get an answer within minutes. * Average response time.
Question Posted: February 26, 2016 03:40:53
See More Questions

Students also viewed these Finance questions

Q:
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...
A:
Let the size of the single payment be Sx The foc......
Q:
A loan payment of $1450 was due 45 days ago and a payment of $1200 is due in 60 days. What single payment made 30 days from now is required to settle the two payments if interest is 7% and the focal...
A:
Let the size of the single payment be......
Q:
What single payment, 45 days from now, is economically equivalent to the combination of three payments of $1750 each: one due 75 days ago, the second due today, and the third due in 75 days? Money is...
A:
Equivalent single payment 4......
Q:
a. Calculate the quick ratio of company B in FY2020. State what factors need to be considered when evaluating company B?s short-term liquidity and analyse the impact of these factors on the...
A:
A Quick Ratio The quick ratio for the year 2020 is 1 51 which is healthy c......
Q:
There are several techniques available for managing risk. For each of the following risks, identify an appropriate technique, or combination of techniques, that would be appropriate for dealing with...
A:
a Risk control such as exercise losing weight and following a healthy diet can reduce the chance......
Q:
Explain why the following alkyl halide does not undergo a substitution reaction, regardless of the conditions under which the reaction is run: Cl
A:
It will not undergo an S N 2 reaction because of steric hi......
Q:
The ill-fated Trophy Project was in trouble right from the start. Reichart, who had been an assistant project manager, was involved with the project from its conception. When the company accepted the...
A:
1 The project known as the Trophy Project encountered several problems that led to its troubled state from the beginning Some key reasons for the proj......
Q:
McCracken Roofing, Inc., common stock paid a dividend of $1.20 per share last year. The company expects earnings and dividends to grow at a rate of 5% per year for the foreseeable future. a. What...
A:
a b 14 D Po g......
Q:
Due to COVID-19, there has been a significant increase of over 70% in nurse burnout. This has resulted in an unprecedented shortage of staff and high turnover rates. Organizations need help to...
A:
The situation described with a significant increase in nurse burnout staff shortages and high turnover rates is indeed a critical issue in the healthc......
Q:
The owner of Waltz Company in Fairview has asked you to prepare a worksheet from the following trial balance and additional data: Additional Data a. and b. Ending merchandise inventory on December...
A:
WALTZ COMPANY WORKSHEET FOR YEAR ENDED DECEMBER 31 2014 WALTZ COMPANY WORKSHEET FOR YEAR END......
Q:
Debt payments are due of $700 in two months and $800 in five months. If interest at 8.3% is allowed, what single payment today is required to settle the two scheduled payments?
A:
Let the size of the single payment be......
Q:
Jay was due to make loan payments of $500 four months ago, $800 today, and $400 in three months. He has agreed instead to make a single payment one month from today. If money is worth 10.5% and the...
A:
Let the size of the single payment be Sx The foc......
Q:
Evaluate the definite integrals in Problem. 2 L 15x (x* 6) dx -2
A:
15x x 6 dx 2......
Q:
You has obtained forward contract quotations for the Thai baht to determine whether covered interest arbitrage may be possible. The quoted forward rate is $0.0245 per Thai baht for a 90-day forward...
A:
To determine whether covered interest arbitrage may be possible we need to compare the actual forward rate with the calculated forward rate using inte......
Q:
HighTech Inc. randomly tests its employees about company policies. Last year in the 400 random tests conducted, 14 employees failed the test. You can use the following Excel model: A Sample...
A:
a The point estimate of the population proportion is the sample proportion which is calculated as Point Estimate Sample Proportion 14 400 0 035 To express this as a percentage you can multiply it by 1......
Q:
Harrison received a nonstatutory stock option from his employer on January 1, 2022. The option gives him the right to purchase 100 shares of his company's stock at $22 per share. The option is not...
A:
The compensation that should be included in Harrison s 2022 income a......
Q:
We have talked about the importance of primary keys and foreign keys. What problems can occur if the primary key constraint is not enforced?
A:
Enforcing primary key constraints in a relational database is essential for maintaining data integrity and ensuring the correctness and reliability of......
Q:
Read three articles in the links below about affinity credit cards and schools. After reading this, do you think universities should enter into agreements to offer affinity credit cards to students?...
A:
whether universities should enter into agreements to offer affinity credit cards to students is a good question and one needs to analyze various factors before concluding Some of the factors to be con......
Q:
Refer to the preceding balance sheet and income statement for Greenfern Corporation for the fiscal year ended July 31, 2017. Use the DuPont identity to calculate the return on equity (ROE). In the...
A:
Net profit margin Net income Net sales 6 566 73 236 0 0897 or 8 97 Total asset turnover......
Q:
Explain the term "Equivalent Units". Why are they calculated in process costing? [4 Marks] [minimum 350 words]
A:
Equivalent Units It is the number of completed units of an item that a company could theoretically h......
Q:
Tables of materials properties list density, in units of kg/m3, when the international system of units (SI) is used and list specific weight, in units of lb/in3, when the U.S. customary system of...
A:
Script file clear clc disp Part a den 7860 sw DenTOSw den disp The specific wei......
Q:
In lottery the player has to guess correctly r numbers that are drawn out of n numbers. The probability, P, of guessing m numbers out of the r numbers can be calculated by the expression: p =...
A:
Script file disp Part a prob3of6 ProbLottery 3 6 49 disp......
Q:
Write a user-defined MATLAB function that converts speed given in units of knots (one knot is one nautical mile per hour) to speed in units of feet per second. For the function name and arguments,...
A:
Script file kts 400 fps ktsTOfps kts......
Tools For Computational Finance 6th Edition - ISBN: 1447173376 - Free Book