Debts of $850 due in six months, $700 due in sixteen months, and $1100 due in three years are to be ...

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Debts of $850 due in six months, $700 due in sixteen months, and $1100 due in three years are to be ...

Debts of $850 due in six months, $700 due in sixteen months, and $1100 due in three years are to be settled by a single payment one year from now. What is the size of that single payment if interest is 7.5% compounded monthly?

Textbook

Contemporary Business Mathematics with Canadian Applications

Edition: 11^th

Authors: Hummelbrunner, Halliday, Hassanlou, Coombs

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bio_man, Baguio Family

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Harshil l.

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thanks

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