Jayne needs to make three payments to Jade requiring $2,000 each 5 months, 10 months, and 15 months from today. She proposes instead making a single payment eight months from today. If Jade agrees to a simple interest rate of 9.5%, what amount should Jayne pay? 

Answer rating: 100% (QA)

Jayne can calculate the single payment amount using the present value formula for a series o... View the full answer