Multiple Choice
Arjun has taken a loan and debt can be repaid by payments of $425.00 today, $377.00 in two years and $560.00 in five years. What single payment would settle the debt three years from now if money is worth 6.25% p.a. compounded quarterly?
A) $1362.00
B) $1407.70
C) $1546.98
D) $1387.92
E) $1341.13
Correct Answer:
Verified
Correct Answer:
Verified
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