Shamrock Inc. was supposed to have received a payment of $25,000, 5 years ago, and $14,000, 2 years ago, from a customer who could not make either payment as scheduled. If the customer would like to settle both payments today, what amount would he have to pay Shamrock Inc. if interest of 4.26% compounded quarterly is charged?

Answer rating: 100% (QA)

Given information Original payment 1 25000 5 years late Original payment 2 14000 2 years late Intere... View the full answer