Sethra has 3 payments in her payment stream to XM Bank. She should have paid $780.00, 4
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Sethra has 3 payments in her payment stream to XM Bank. She should have paid $780.00, 4 months ago (it was not paid) and she has to pay $970.00 in 3 months from today and $700.00 in 7 months from today. Sethra was able to negotiate with XM Bank a new arrangement that will see her make a single payment 1 months from today, which will be financially equivalent to the old payment plan.
What would be Sethra's single payment at 1 months from today if money earns interest at 3.75%.
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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