A debt of $1500 due in five years and $2000 due in seven years is to be repaid by a payment of $2000 now and a second pay
Posted: Wed Mar 09, 2022 8:19 am
A debt of $1500 due in five years and $2000 due in seven years is to be repaid by a payment of $2000 now and a second payment at the end of three years. How much should the second payment be if interest is at 3% compounded annually?