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Debt obligations of $500.00 due on April 27, 2018 and $1625.00 due on September 30, 2018 are

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Debt obligations of $500.00 due on April 27, 2018 and $1625.00 due on September 30, 2018 are to be repaid by a payment of $1200.00 on July 6, 2018 and the balance on January 15, 2019. What is the size of the final payment if interest is 6.25% and the agreed focal date is September 30, 2018?
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Let the size of the final payment be x The focal ...View the full answer


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Muhammad Umair
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Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0134141084

11th edition

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

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