Joan was advanced 3 loans: $6814.29 at the start of January, $8985.82 at the start of February and $9559.59 at the start of April. She expects to repay these debts with three equal payments: one at the start of September, one at the start of October and one at the start of December. Suppose the Simple Interest rate is 5.5%. Use the start of October as a focal date.

What is the total value of the debt (loan) at the focal date?

Answer rating: 100% (QA)

Value of the Loan taken on january with interest at start of october 68142968142991255 70... View the full answer