E Homework: Homework 3 HW Score: 40%, 6 of 15 points O Points: 0 of 1 Question 11, 7.5.6 > lane was due to make loan payments of $1310 seven months ago, $3382 three month ago, and $716 in four months. Instead, she is to make a single payment today. If money is worth 7.4% and the agreed focal date is today, what is the size of the replacement payment? The replacement payment is S Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
E Homework: Homework 3 HW Score: 40%, 6 of 15 points O Points: 0 of 1 Question 11, 7.5.6 > lane was due to make loan payments of $1310 seven months ago, $3382 three month ago, and $716 in four months. Instead, she is to make a single payment today. If money is worth 7.4% and the agreed focal date is today, what is the size of the replacement payment? The replacement payment is S Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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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Transcribed Image Text:= Homework: Homework 3
HW Score: 40%, 6 of 15 points
O Points: 0 of 1
Question 11, 7.5.6
Jane was due to make loan payments of $1310 seven months ago, $3382 three month ago, and $716 in four months. Instead, she is to make a single payment today. If money is worth 7.4% and the agreed focal date is today, what is the size of the replacement payment?
The replacement 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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