What single payment in 2 year would replace a payment of $7,450.00, 2 years ago and...
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What single payment in 2 year would replace a payment of $7,450.00, 2 years ago and a payment of $18,000.00, 4 years ago? Assume both payments were not paid and that their interest rate is 4.62% compounded quarterly. Please include a well-labelled timeline diagram. Full solutions should be shown on separate sheets of paper. Submit your solutions. Round to the nearest cent What single payment in 2 year would replace a payment of $7,450.00, 2 years ago and a payment of $18,000.00, 4 years ago? Assume both payments were not paid and that their interest rate is 4.62% compounded quarterly. Please include a well-labelled timeline diagram. Full solutions should be shown on separate sheets of paper. Submit your solutions. Round to the nearest cent
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step 1 Quarterly rate of interest 4624 1155 step 2 Calc... View the full answer
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