Teresita has three financial obligations to the same person: $2700 due in 1 year, $1900 due in 1 years, and $1100 due in 3 years. She wishes to settle the obligations 2 with a single payment in 2 years, when her inheritance will be released from her mothers estate. What amount should the creditor accept if money can
Teresita has three financial obligations to the same person: $2700 due in 1 year, $1900 due in 1 ½ years, and $1100 due in 3 years. She wishes to settle the obligations 2 with a single payment in 2 ¼ years, when her inheritance will be released from her mother’s estate. What amount should the creditor accept if money can earn 6% compounded quarterly?
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