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Scheduled payments of $2,000 due today and $4,000 due in nine months are to be replaced by two ...

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Scheduled payments of $2,000 due today and $4,000 due in nine months are to be replaced by two ...

Scheduled payments of $2,000 due today and $4,000 due in nine months are to be replaced by two payments—$3,000 due in fifteen months and a second payment of undetermined size due in twenty-four months. What must the second payment be for the two streams to be economically equivalent? Assume that money can earn 1.75% compounded quarterly.

▸ $3,319.80

▸ $3,119.80

▸ $3,179.80

▸ $3,199.80

▸ $4,119.80

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Business Mathematics in Canada

Edition: 11^th

Authors: Jerome, Worswick

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