A demand loan of $3000.00 is repaid by payments of $1500.00 after two years, $1500.00 after four years, and a final payment after eight years. Interest is 5% compounded quarterly for the first two years, 6% compounded monthly for the next two years, and 6% compounded annually thereafter. What is the size of the final naumont?

A demand loan of $3000.00 is repaid by payments of $1500.00 after two years, $1500.00 after four years, and a final payment after eight years. Interest is 5% compounded quarterly for the first two years, 6% compounded monthly for the next two years, and 6% compounded annually thereafter. What is the size of the final naumont?

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 18P

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