You purchase machinery in two payments of $85,000 each (plus interest of 18.5% compounded semiannually) over 6 months and one year. After the passage of a quarter, the purchase is renegotiated and it is determined to pay it through three quarterly payments: the first for $45,500, the second for $60,000 and the third for the difference, considering an interest of 17.5% convertible quarterly for this renegotiation. 

What is the amount of the last payment?

Answer rating: 100% (QA)

To calculate the amount of the last payment in the renegotiated scenario we can use the formula for ... View the full answer