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Debt payments of $1610.00 due today, $725.00 due in 101 days and $670.00 due in 296 days respectively are to be combined into a single payment to be made 170 days from now. What is that single payment, if money is worth 9.5% p.a. and the agreed focal date is 170 days from now. Round to the nearest cent.

Debt payments of $1610.00 due today, $725.00 due in 101 days and $670.00 due in 296 days respectively are to be combined into a single payment to be made 170 days from now. What is that single payment, if money is worth 9.5% p.a. and the agreed focal date is 170 days from now. Round to the nearest cent.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Debt payments of $1610.00 due today, $725.00 due in 101 days and $670.00 due in 296 days respectively are to be combined into a single payment to be made 170 days from now. What is that single payment, if money is worth 9.5% p.a. and the agreed focal date is 170 days from now. Round to the nearest cent.                                                                                                                                                                                                 

                  

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