Kyle was supposed to pay Cassandra $5,200, 6 months ago, and $1,880, 5 months from now. If he wants to reschedule these payments with two payments, one payment of $2,300 today and the balance 3 months from now, calculate the balance amount. Assume that the simple interest charged is 4.75% p.a. and the agreed focal date is 3 months from now. Round to the nearest cent

Kyle was supposed to pay Cassandra $5,200, 6 months ago, and $1,880, 5 months from now. If he wants to reschedule these payments with two payments, one payment of $2,300 today and the balance 3 months from now, calculate the balance amount. Assume that the simple interest charged is 4.75% p.a. and the agreed focal date is 3 months from now. Round to the nearest cent

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

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Val regularly deposits a certain amount K in a bank account which credits com-pound interest: If Val intends to pay K at the beginning of each quarter for 4years, how much should be this periodic payment if the sum of present valuesof all these payments is 15,000 at a nominal interest rate of 8% compoundedquarterly?
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12. Justin owes $821 in 5 months and $220 in 9 months. The lender agrees to allow Justin to pay off these two debts with a single payment. What single payment a) due now and b) due in six months will pay of both debts completely. Assume simple interest is 6%. ask ：Assuming focal date is now: and : Assuming focal date is in 6 months:
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Aaliyah Calderon must pay a $36000 obligation 5 years from now. What end-of-Months payments for the entire time, until the obligation is due, would put the creditor in an equivalent financial position if the creditor can earn 4% compounded Weekly? Payment Amounts Aaliyah wanted to only make payments for 1 year and then let the interest accrue. What end-of-Months payments for 12 Months would put the creditor in an equivalent financial position if the creditor can earn 8% compounded Weekly? Value After 1 Year Needed(USE A TIMELINE) S Payments Needed To Achieve That Amount$
Give answer with explnation and calculation And Explain All Correct and incorrect option

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