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Payments of $850 due two years ago and $1760 due six months ago have not been made. The proposed alternative

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Payments of $850 due two years ago and $1760 due six months ago have not been made. The proposed alternative is two equal payments, three months and nine months from now, that will put the payee in an equivalent economic position allowing that money can earn 5.6% compounded quarterly. What is the amount of each of these payments?

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Let x represent the size of each replacement payment For …View the full answer


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Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional. Since 2012 I am providing home tutions.
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Business Mathematics In Canada

Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: January 20, 2016 07:27:18
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