Marilyn was supposed to pay $1,620 to Bernice on March 18. Some time later Marilyn paid Bernice an equivalent payment of $1.672.63, allowing fora time value of money of 2.4% compounded monthly. When did Marilyn make the payment? (Do not round your Intermedlate calculatdons and round your answer to the nearest month.) Marylin made the payment months later.

Marilyn was supposed to pay $1,620 to Bernice on March 18. Some time later Marilyn paid Bernice an equivalent payment of $1.672.63, allowing fora time value of money of 2.4% compounded monthly. When did Marilyn make the payment? (Do not round your Intermedlate calculatdons and round your answer to the nearest month.) Marylin made the payment months later.

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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