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Home Q & A Board Science-Related Homework Help Mathematics
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ashkatnew ashkatnew
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A year ago
Two debts, the first of $1400 due nine months ago and the second of $1600 borrowed one year ago for a term of four years at 1% compounded annually, are to be replaced by a single payment one year from now. Determine the size of the replacement payment if interest is 1.8% compounded quarterly and the focal date is one year from now.

The size of the replacement payment is $ (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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Anonymous
wrote...
#1
A year ago
The answer is 3063.84

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Anonymous
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#2
A year ago
Thank you
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