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A debt of $9179.58 is repaid by payments of $1797.52 in 4 months, $1295.22 in 16 months, and a final payment in 29 months. If interest was 3% compounded annually, what was the amount of the final payment? Cu

A debt of $9179.58 is repaid by payments of $1797.52 in 4 months, $1295.22 in 16 months, and a final payment in 29 months. If interest was 3% compounded annually, what was the amount of the final payment? Cu

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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A debt of $9179.58 is repaid by payments of $1797.52 in 4 months, $1295.22 in 16 months, and a final payment in 29 months. If interest was 3% 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.)
Transcribed Image Text:A debt of $9179.58 is repaid by payments of $1797.52 in 4 months, $1295.22 in 16 months, and a final payment in 29 months. If interest was 3% 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.)
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