Multiple Choice
A debt of $5000 is due today and another debt of $4000 is due in 70 days.These debts are to be settled/replaced by a payment of $6000 in 20-days and a payment of $X in 110-days (from today) .If r = 11%,what is the value of X using the end of 20 days as the focal date?
A) $2892.31
B) $3008.81
C) $3001.67
D) $3051.34
Correct Answer:
Verified
Correct Answer:
Verified
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