What single payment six months from now would be economically equivalent to payments of $1250 due (but not paid) four months ago and $1550 due in 12 months? Assume money can earn 3.7% compounded monthly. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Answer rating: 100% (QA)

Step 1 Interest rate 37 r Monthly Interest rate 3712 030833 Value should be at 6 ... View the full answer