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Payments of $3,500, due 60 days ago, and $4,000, due in 50 days, are to be replaced by payments of $3,900 due today and
Posted: Tue Nov 16, 2021 9:22 am
by answerhappygod
- Payments Of 3 500 Due 60 Days Ago And 4 000 Due In 50 Days Are To Be Replaced By Payments Of 3 900 Due Today And 1 (17.83 KiB) Viewed 59 times
Payments of $3,500, due 60 days ago, and $4,000, due in 50 days, are to be replaced by payments of $3,900 due today and the balance due in 40 days. What must the second payment be if the payee is to end up in an equivalent financial position? Money now earns 8.70%. Use 40 days from now as the focal date. (Use 365 days a year. Do get round intermediate calculations and round your final answer to 2 decimal places.) Second payment $ 3,637291