Debt payments of $800.00 due now and $1400.00 due in five months are to be repaid by a payment of $1000.00 in three months and a final payment in eight months. Calculate the size of the final payment if interest is 6%. Select one: Oa. $1228 Ob. $1100 c. $2238 d. $1450

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
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Debt payments of $800.00 due now and $1400.00 due in five months are to be repaid by a payment of $1000.00 in three
months and a final payment in eight months. Calculate the size of the final payment if interest is 6%.
Select one:
a. $1228
b. $1100
c. $2238
d. $1450
O
O
Transcribed Image Text:Debt payments of $800.00 due now and $1400.00 due in five months are to be repaid by a payment of $1000.00 in three months and a final payment in eight months. Calculate the size of the final payment if interest is 6%. Select one: a. $1228 b. $1100 c. $2238 d. $1450 O O
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