Solved

Two Payments of $1300 and $1800 Were Scheduled to Be

Question 55

Short Answer

Two payments of $1300 and $1800 were scheduled to be paid five months ago and three months from now, respectively. The $1300 payment has not yet been made. What single payment at a focal date one month from now would be equivalent to the two scheduled payments if money can earn 4½ %?

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q50: After 7 months at an interest rate

Q51: Jacques received the proceeds from an inheritance

Q52: Calculate the missing value: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB9643/.jpg" alt="Calculate

Q53: Calculate the amount of money that would

Q54: The total accrued interest owed as of

Q56: How many months would it take for

Q57: What was the simple interest rate if

Q58: How many months would it take to

Q59: Calculate the equivalent value of the scheduled

Q60: A $1000 loan at 9% was repaid