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A debt of $150,000 was paid for as follows: $40,000 at the end of 3months, $50,000 at the end of 12 months, $30,000 at the end of 15 months, and a final payment F at the end of 21 months. If the rate of interest is 12% compounded quarterly, find the final payment F.

A debt of $150,000 was paid for as follows: $40,000 at the end of 3months, $50,000 at the end of 12 months, $30,000 at the end of 15 months, and a final payment F at the end of 21 months. If the rate of interest is 12% compounded quarterly, find the final payment F.

Essentials Of Investments
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
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A debt of $150,000 was paid for as follows: $40,000 at the end of 3months, $50,000 at the end of 12 months, $30,000 at the end of 15 months, and a final payment F at the end of 21 months. If the rate of interest is 12% compounded quarterly, find the final payment F.
Transcribed Image Text:A debt of $150,000 was paid for as follows: $40,000 at the end of 3months, $50,000 at the end of 12 months, $30,000 at the end of 15 months, and a final payment F at the end of 21 months. If the rate of interest is 12% compounded quarterly, find the final payment F.
I A debt of $150,000 was paid for as follows: $40,000 at the end of 3months, $50,000 at the end of 12 months, $30,000 at the end of 15 months, and a final payment F at the end of 21 months. If the rate of interest is 12% compounded quarterly, find the final payment F. A debt of $150,000 was paid for as follows: $40,000 at the end of 3months, $50,000 at the end of 12 months, $30,000 at the end of 15 months, and a final payment F at the end of 21 months. If the rate of interest is 12% compounded quarterly, find the final payment F. Show Transcribed Text
Transcribed Image Text:I A debt of $150,000 was paid for as follows: $40,000 at the end of 3months, $50,000 at the end of 12 months, $30,000 at the end of 15 months, and a final payment F at the end of 21 months. If the rate of interest is 12% compounded quarterly, find the final payment F. A debt of $150,000 was paid for as follows: $40,000 at the end of 3months, $50,000 at the end of 12 months, $30,000 at the end of 15 months, and a final payment F at the end of 21 months. If the rate of interest is 12% compounded quarterly, find the final payment F. Show Transcribed Text
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