You bought a motorcycle three months ago and agreed with the creditor to pay the debt through two promissory notes of $6,000 each. The first document for a term of six months and the second for a term of one year. The interest rate of the documents is 18% per semester. For the purposes of better cash flow management, you decide to renegotiate the debts and proposes to his creditor the following: make three payments, the first payment being $3,600 to be made in cash; a second payment for ¢6,000 for three months and a third payment for the difference for a term of six months. The rate agreed for the renegotiation is 30% capitalized quarterly. Using the appropriate formulas and procedures, determine the amount of that last payment
You bought a motorcycle three months ago and agreed with the creditor to pay the debt through two promissory notes of $6,000 each. The first document for a term of six months and the second for a term of one year. The interest rate of the documents is 18% per semester. For the purposes of better cash flow management, you decide to renegotiate the debts and proposes to his creditor the following: make three payments, the first payment being $3,600 to be made in cash; a second payment for ¢6,000 for three months and a third payment for the difference for a term of six months. The rate agreed for the renegotiation is 30% capitalized quarterly. Using the appropriate formulas and procedures, determine the amount of that last payment
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