Multiple Choice
A financial obligation requires the payment of $25 000.00 in 12 months, $35 000.00 in 18 months, and $30 000.00 in 30 months. When can the obligation be discharged by a single payment of $83 000.00 if interest is 6.5% compounded semi-annually?
A) 6 months
B) 5 months
C) 4 months
D) 9 months
E) 11 months
Correct Answer:
Verified
Correct Answer:
Verified
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