A $2400 loan payment is due on March 31st andra $5100 loan payment is due on...
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A $2400 loan payment is due on March 31st andra $5100 loan payment is due on August 12th. These loan payments will not be made. Instead, there will be a single payment due on June 10th. What is the economically equivalent value of the single payment on June 10th? Assume a simple interest rate of 4.15% and that all dates given are within the same year. (In your rough work, it may be helpful to draw a timeline.) A $2400 loan payment is due on March 31st andra $5100 loan payment is due on August 12th. These loan payments will not be made. Instead, there will be a single payment due on June 10th. What is the economically equivalent value of the single payment on June 10th? Assume a simple interest rate of 4.15% and that all dates given are within the same year. (In your rough work, it may be helpful to draw a timeline.)
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Related Book For
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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