Debt payments of $800.00 due now and $1400.00 due in five months are to be repaid by a payment of $1000.00 in three months and a final payment in eight months. Calculate the size of the final payment if interest is 6%. Select one: Oa. $1228 Ob. $1100 c. $2238 d. $1450
Debt payments of $800.00 due now and $1400.00 due in five months are to be repaid by a payment of $1000.00 in three months and a final payment in eight months. Calculate the size of the final payment if interest is 6%. Select one: Oa. $1228 Ob. $1100 c. $2238 d. $1450
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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