A woman owes $3000 now due in 4 months at simple interest 8% p.a. and $4000...

 

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A woman owes $3000 now due in 4 months at simple interest 8% p.a. and $4000 now due in 10 months at simple interest 7% p.a. this is to be paid off with a single payment in 8 months at 6.5%. Find the amount due in 8 months-time? A woman owes $3000 now due in 4 months at simple interest 8% p.a. and $4000 now due in 10 months at simple interest 7% p.a. this is to be paid off with a single payment in 8 months at 6.5%. Find the amount due in 8 months-time?

Answer rating: 100% (QA)

The amount due in 8 months is 7000 This can be calculated by finding the amount owed at each interes... View the full answer