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Find the equated date at which the original payments are equivalent to the single payment. State your answer in years and months (from 0 to 11 months). Original Payments $1863.00 due today and $787.00 due in 6 years Interest Rate 9% Frequency of Conversion monthly C... Single Payment $3222.29 In year(s) and month(s) the single payment will be equivalent to the original payments.

Find the equated date at which the original payments are equivalent to the single payment. State your answer in years and months (from 0 to 11 months). Original Payments $1863.00 due today and $787.00 due in 6 years Interest Rate 9% Frequency of Conversion monthly C... Single Payment $3222.29 In year(s) and month(s) the single payment will be equivalent to the original payments.

Essentials Of Investments
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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Find the equated date at which the original payments are equivalent to the single payment. State your answer in years and months (from 0 to 11 months). Original Payments $1863.00 due today and $787.00 due in 6 years Interest Rate 9% Frequency of Conversion monthly Single Payment $3222.29 In year(s) and month(s) the single payment will be equivalent to the original payments.
Transcribed Image Text:Find the equated date at which the original payments are equivalent to the single payment. State your answer in years and months (from 0 to 11 months). Original Payments $1863.00 due today and $787.00 due in 6 years Interest Rate 9% Frequency of Conversion monthly Single Payment $3222.29 In year(s) and month(s) the single payment will be equivalent to the original payments.
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