Jaspreet was supposed to pay Blake $4,100, 6 months ago, and $1,780, 5 months from now....

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Jaspreet was supposed to pay Blake $4,100, 6 months ago, and $1,780, 5 months from now. If he wants to reschedule these payments with two payments, one payment of $2,300 today and the balance 3 months from now, calculate the balance amount. Assume that the simple interest charged is 5.25% p.a. and the agreed focal date is 3 months from now. Jaspreet was supposed to pay Blake $4,100, 6 months ago, and $1,780, 5 months from now. If he wants to reschedule these payments with two payments, one payment of $2,300 today and the balance 3 months from now, calculate the balance amount. Assume that the simple interest charged is 5.25% p.a. and the agreed focal date is 3 months from now.

Answer rating: 100% (QA)

To calculate the balance amount that Jaspreet will pay 3 months from now we need to determine the to... View the full answer