Essay
Two debt payments, the first in the amount of $1600.00 due today, and the second in the amount of $7200.00 due in 15 months with interest at 9.6% p.a. compounded quarterly, are to be settled by a payment of $3400.00 nine months from now and a final payment in 21 months. Determine the size of the final payment if the money is worth 12.12% p.a. compounded monthly.
Correct Answer:
Verified
Correct Answer:
Verified
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