a debt of $4,000 due five years from now and $4,000 due ten years from now is to be repaid by a payment of $2,000 in two years, a payment of $3,000 in four years, and a final payment at the end of six years. If the interest rate is 3% compounded annually, how much is the final payment?

Answer rating: 100% (QA)

we can find the final payment amount needed to settle the debt Heres how Step 1 Find the Present Val... View the full answer