A debt of $401 due in 4 months and another debt of $638 due in 11 months
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A debt of $401 due in 4 months and another debt of $638 due in 11 months are both to be paid with a single payment in 8 months. What single payment will pay off the two debts if the interest rate is 5% p.a?
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
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