Marilyn was supposed to pay $1490 to Bernice on March 5. Sometime later Marilyn paid Bernice an
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Marilyn was supposed to pay $1490 to Bernice on March 5. Sometime later Marilyn paid Bernice an equivalent payment of $1563.15, allowing for a time value of money of 3.6% compounded monthly. When did Marilyn make the payment? (Do not round your intermediate calculations and round your answer to the nearest month.) Marylin made the payment months later.
Related Book For
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1133161646
7th Edition
Authors: Gary A. Porter, Curtis L. Norton
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