Question: Scheduled loan payments of $1500 due in 6 months and $1900 due in 21 months are rescheduled as a payment of $2000 due in 3

Scheduled loan payments of $1500 due in 6 months and $1900 due in 21 months are rescheduled as a payment of $2000 due in 3 years and a second payment due in 45 months. Determine the size of the second payment if interest is 7% compounded quarterly and the focal date is 45 months from now? : $1955.51

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

Scheduled loan payments of $1500 due in 6 months and $1900 due in 21 months are rescheduled as a payment of $2000 due in 3 years and a second payment due in 45 months. Determine the size of the...

9. Scheduled loan payments of $1500 due in 6 months and $1900 due in 21 months are rescheduled as a payment of $2000 due in three years and a second payment due in 45 months. Determine the size of...

Scheduled loan payments of $591 due in 6 months and $1111 due in 21 months are rescheduled as a payment of $1374 due in 36 months and a second payment due in 48 months. Determine the size of the...

Help Scheduled loan payments of $675 due in 6 months and $1095 due in 21 months are rescheduled as a payment of $1084 due in 33 months and a second payment due in 45 months. Determine the size of the...

Scheduled loan payments of $1213 due in 6 months and $1387 due in 21 months are rescheduled as a payment of $534 due in 39 months and a second payment due in 48 months. Determine the size of the...

1) A non-interest bearing eight year note for $5000 issued August 1, 2008 is discounted April 1, 2011 at 6.5% compounded semi-annually. Find the compound discount. 2) Scheduled loan payments of $2000...

K Scheduled loan payments of $1477 due in 6 months and $643 due in 24 months are rescheduled as a payment of $1325 due in 33 months and a second payment due in 45 months. Determine the size of the...

1. Scheduled payments of $1258, $454, and $389 are due in one year, four years, and six years respectively. What is the equivalent single replacement payment two-and-a-half years from now if interest...

Example 1.4 shows that the only matrix similar to a zero matrix is itself and that the only matrix similar to the identity is itself. (a) Show that the 1 1 matrix whose single entry is 2 is also...

Early in 2017, Coronado Equipment Company sold 500 Rollomatics during 2017 at $5,500 each. During 2017, Coronado spent $18,000 servicing the 2-year assurance warranties that accompany the Rollomatic....

According to pecking order theory, which financing choice is most preferred, and which is least preferred? Most preferred / / Least preferred New debt / / New equity Internally generated funds / /...

Lehman Corporation purchased a machine on January 2 , 2 0 1 7 , for $ 4 , 0 0 0 , 0 0 0 . The machine has an estimated 5 - year life with no salvage value. The straight - line method of depreciation...

4. What is meant by the following statement, What we take for granted in a social situation may actually prove to be mechanisms that govern how we evaluate and act in the situation?

6. What is meant by the following statement, the methods used to uncover (construct) reality guide our thinking and actions in relation to this reality?

1. Discuss the following statements: (a) A person who describes something, ignores something else. (b) Our description of something will always be different from the thing we describe. (c) Our social...