<A debt of $7931 23 is repaid by payments of $1129.24 in 7 months, $1229.85 in 15 months, and a final payment in 23 months. If interest was 9% compounded annually, what was the amount of the final payment?The final payment is $☐(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Debt amount = $7931.23Payment in 7 month = $1129.24Payment in 15 month = $1229.85Final payment made…

Answered: A debt of $7931 23 is repaid by…

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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