Question: What payment 9 months from now would be equivalent in value to a $1,775 payment due in 4 months and a $1,600 payment due 21

What payment 9 months from now would be
What payment 9 months from now would be equivalent in value to a $1,775 payment due in 4 months and a $1,600 payment due 21 months from now? The value of money is 6.2%, simple interest. Round your final answer only to 2 decimal places. Round answers to two decimal places. For full marks, all work must be shown. Your answer: Your rough work

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!