Tiziana loaned 35000 to Jessica who settled the loan in two installments: one in three months and other in ten months. If the second payment was three times the first payment, and Jessica was charged 4.5% p.a., calculate the value of each of the payments. Use ten months from now as the focal date.

Answer rating: 100% (QA)

To calculate the value of each payment made by Jessica to Tiziana we can use the concept of present ... View the full answer