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Home Q & A Board Science-Related Homework Help Mathematics
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Anonymous bio_man
wrote...
A year ago
Henrik, a Canadian hockey player, agreed to a contract where he was to receive $30,OOO 00 in 3 months, $50,000.00 in 9 months, and $70,OOO 00 in 18 months. The deal was renegotiated after 4 months when he received a payment of $40 000.00. He agreed to accept a payment of $108000.00 at a later date. When should Henrik receive the payment it money is worth 5% compounded monthly?

State your answer in years and months (from O to 11 months).

The payment of $108,OOO.OO can be fulfilled in ____ year(s) and ____ month(s).
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Anonymous Author
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#1
A year ago

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