You are owed $ 7 , 5 0 0 to be paid in one year. Instead you

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Question:

You are owed $

7, 500

to be paid in one year. Instead you are requested to accept three equal and unknown payments

(

call them X

)

due today,

6

months from now, and

2.5

years from now. What is the value of the unknown payments, if the interest rate is

5 %

.

.,

and the focal date is one year from today? Draw the timeline for this question.

Related Book For answer-question

College Accounting A Practical Approach

ISBN: 978-0132564441

11th Canadian Edition

Authors: Jeffrey Slater, Brian Zwicker

Posted Date: Mar 19, 2024 05:43 AM

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You are owed $ 7 , 5 0 0 to be paid in one year. Instead you

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To calculate the value of the unknown payments X given the interest rate of 5 per annum and the paym... View the full answer

College Accounting A Practical Approach

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