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Eight months ago, Louise agreed to pay Thelma $750 and $950 six and twelve months, respectively, ...

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Eight months ago, Louise agreed to pay Thelma $750 and $950 six and twelve months, respectively, ...

Eight months ago, Louise agreed to pay Thelma $750 and $950 six and twelve months, respectively, from the date of the agreement. With each payment, Louise agreed to pay interest on the respective principal at the rate of 6.5% from the date of the agreement. Louise failed to make the first payment and now wishes to settle her obligations with a single payment four months from now. What payment should Thelma be willing to accept if money can earn 4.75%?

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Business Mathematics in Canada

Edition: 11^th

Authors: Jerome, Worswick

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texasboy3

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11 months ago

More solutions for this book are available here

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JZ240 Author

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11 months ago

Thanks

Danivalda

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Yesterday

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derya1234

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Good timing, thanks!

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