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Three payments of $2000 each (originally due six months ago, today, and six months from now) have ...

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Three payments of $2000 each (originally due six months ago, today, and six months from now) have ...

Three payments of $2000 each (originally due six months ago, today, and six months from now) have been renegotiated to two payments: $3000 due one month from now and a second payment due in four months. What must the second payment be for the replacement payments to be equivalent to the originally scheduled payments? Assume that money can earn an interest rate of 4%. Choose a focal date four months from now.

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Business Mathematics in Canada

Edition: 11^th

Authors: Jerome, Worswick

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mavrik8511

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More solutions for this book are available here

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ericayi Author

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11 months ago

This calls for a celebration Person Raising Both Hands in Celebration

AlahuKakpar

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This helped my grade so much Perfect

hmonier

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Good timing, thanks!

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