Multiple Choice
A person owes $4000 ten (10) months from now.It is agreed that she can,instead,pay $X now and another $2000 two years from now to replace the given debts.If simple interest is r = 9%,what is X using 8 months as the focal date?
A) $1929.20
B) $2026.02
C) $2033.18
D) $2155.17
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q19: Mary deposits $15,000 in a bank account
Q20: A 6-month non-interest bearing promissory note with
Q21: What is the maturity value of the
Q22: What is X,if the declining balance method
Q23: A wholesale electrical supply store is offering
Q25: Mr.A lends $20,000 to Mr.B on May
Q26: Joanne loans Mark $2500.Mark agrees to repay
Q27: How long does it take for $5000
Q28: You invest $2300 on June 10.On November
Q29: What simple discount rate d is equivalent