Loans of $1600.00, $8300.00, and $12,100.00 are due now, in four years, and in seven years respectively. What is the equivalent single sum of money due three and a half years from now if interest is 10.8% compounded monthly? Select one: a. $22,000.00 b. $18,626.80 c. $18,501.94 d. $21,278.29

Loans of $1600.00, $8300.00, and $12,100.00 are due now, in four years, and in seven years respectively. What is the equivalent single sum of money due three and a half years from now if interest is 10.8% compounded monthly? Select one: a. $22,000.00 b. $18,626.80 c. $18,501.94 d. $21,278.29

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 41P

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