aurel was supposed to pay Hardy $2,100 55 days ago as well as $3,000 11 days from now. Hardy agreed to accept three equal payments due now, 78 days from now, and 129 days from now to replace the original set of debt payments. Find the size of the equal payments at 3.5% interest if the focal date is now.(keep 2 decimal if you need) Be sure to include a time diagram in the
Mortgages
A mortgage is a formal agreement in which a bank or other financial institution lends cash at interest in return for assuming the title to the debtor's property, on the condition that the obligation is paid in full.
Mortgage
The term "mortgage" is a type of loan that a borrower takes to maintain his house or any form of assets and he agrees to return the amount in a particular period of time to the lender usually in a series of regular equally monthly, quarterly, or half-yearly payments.
Laurel was supposed to pay Hardy $2,100 55 days ago as well as $3,000 11 days from now. Hardy agreed to accept three equal payments due now, 78 days from now, and 129 days from now to replace the original set of debt payments. Find the size of the equal payments at 3.5% interest if the focal date is now.(keep 2 decimal if you need)
Be sure to include a time diagram in the solution.
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