Ryan owes $1050 due in 1 year(s) and $7600 due in 6 years. By mutual agreement with

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Ryan owes $1050 due in 1 year(s) and $7600 due in 6 years. By mutual agreement with the lender, Ryan was allowed to pay off both debts in 4 years using 17% compounded quarterly.

What single payment at 4 years will settle the debt?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Jun 08, 2023 02:08 AM

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Ryan owes $1050 due in 1 year(s) and $7600 due in 6 years. By mutual agreement with

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To find the single payment that will settle the debt we need to calculate the present value of the t... View the full answer

Income Tax Fundamentals 2013

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