Loan payments of $1725 due today, $510 due in 75 days, and $655 due in 323 days

Question:

Loan payments of $1725 due today, $510 due in 75 days, and $655 due in 323 days are to be combined into a single payment to be made 115 days from now. What is that single payment if money is worth 8.5% p.a. and the focal date is 115 days from now?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

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

See More Books

Question Posted: Feb 26, 2016 03:42 AM

See More Questions

Debt payments of $400 due today, $500 due in 18 months, and $900 due in 3 years are to be combined into a single payment due 2 years from now. What is the size of the single payment if interest is 8%...
A loan of $5000 due in one year is to be repaid by three equal payments due today, six months from now, and one year from now. What is the amount of the equal payments if interest is 6.5% and the...
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...
Three disease-carrying organisms decay exponentially in lake water according to the following model: Estimate the initial population of each organism (A, B, and C) given the followingmeasurements:...
Browse through the responsible management web-pages of companies that you are a customer of with a special focus on transparency. Detect what information of interest for customers is not provided....
Pure iron, Fe, can be produced from an ore called hematite, Fe2O3, by reaction with carbon at high temperatures. 2 Fe2O3 + 3C 4 Fe + 3 CO How many tons of hematite must react with carbon if an iron...
Give a superclass for the following three classes: car, airplane, tank.
The following numbered items 1 10 state procedures accountants should consider in review engagements and compilation engagements on the annual financial statements of non-issuers (performed in...
a. Prepare a horizontal analysis of the income statements. Round percentages to one decimal place. Amazon.com, Inc. Income Statements For the Years Ended December 31 (in millions) Revenues: Product...
During 20X2, Morran Company purchased shares in two corporations and debt securities of a third. The share investments are classified as FVTOCI and the bond investment is FVTPL. Transactions in 20X2...
Compute the amount of interest on $835 at 7.5% p.a. from October 8, 2015, to August 4, 2016.
Scheduled payments of $1010 due five months ago and $1280 due today are to be repaid by a payment of $615 in four months and the balance in seven months. If money is worth 7.75% p.a. and the focal...
Suppose that a function (x) is defined for all x in [-1, 1]. Can anything be said about the existence of lim x0 (x)? Give reasons for your answer.
Mid-latitude weather is largely influenced by processes that redistribute excess energy from the sub-tropics too higher latitudes. It is in the mid-latitudes that warm tropical air masses come in...
(a) Im HClO connecting the atoms with single bonds and chlorine as central atom, one structure we get D 1.. :0 -&-o-H Electrons octet rule is obeyed. Formal charges using resonance. and equalised...
After mutation by PX-41, minions exhibit several new traits, such as purple skin instead of yellow, and being indestructible (as opposed to not indestructible). You notice that purple skin (P) is...
b) Solve by factoring: x + 3x = 18 c) Use quadratic formula to solve for x, give exact answers. 2x-3x = -4 a) Quadratic Equation: b) The two solutions to this equation are: Use part b) to state how...
PRE-LAB CIRCULAR UNIFORM MOTION 1. Verify the dimensional correctness of Equation 2 by using the units of speed and distance to show that a, has acceleration units. 2. Which of the following...
In Exercises use the definition of Taylor series to find the Taylor series, centered at c for the function. f(x) = = tan x, c = 0 (first three nonzero terms)
What are the risks and liability factors in an audit? What are the implications to the auditor? What are the implications to the organization? How can the auditor mitigate these risks and liability...
Consider the two ellipses in the x y plane given by the equations (a) Use the ezplot command to plot the two ellipses in the same figure. (b) Determine the coordinates of the points where the...
A 120 in.-long beam AB is attached to the wall with a pin at point A and to a 66 in long cable CD. A load W = 200 lb is attached to the beam at point B. The tension in the cable T and the x and y...
A box of mass m is being pulled by a rope as shown. The force Fin the rope as a function of x can be calculated from the equations: where N and are the normal force and friction coefficient between...
Select three services: one high in search attributes, one high in experience attributes, and one high in credence attributes. Specify what product characteristics make them easy or difficult for...
The New York City Council is ready to vote on two bills that authorize the construction of new roads in Manhattan and Brooklyn. If the two boroughs join forces, they can pass both bills, but neither...
Miss Israel has a chest tube in place for a spontaneous pneumothorax. You note that the water seal chamber is bubbling vigorously. What could cause this? What should you do? You are totaling intake...

Loan payments of $1725 due today, $510 due in 75 days, and $655 due in 323 days

Question:

Step by Step Answer:

Let the single payment be x x 172500 ...View the full answer

Contemporary Business Mathematics with Canadian Applications

Students also viewed these Finance questions