Essay
Eighty days ago, Emma was supposed to pay $870 to Regina. She also will owe Regina $1230 in 120 days. However, Emma is unable to pay these amounts; so instead, Regina has agreed to accept two equal payments due after three months and six months, respectively. If the interest rate is 1.25%, determine the size of the quarterly payments.
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Dated value of the original scheduled pa...View Answer
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