Greg owes two debt payments – a payment of $5502 that was due in 14 months ago and a payment of $1603 due in 8 months. If Greg makes a payment now, what would this payment be if money is worth 6.10% compounded semi-annually? Assume a focal date of today. Please express your answer to the nearest dollar. Sample input: 2456 for $2456.
Greg owes two debt payments – a payment of $5502 that was due in 14 months ago and a payment of $1603 due in 8 months. If Greg makes a payment now, what would this payment be if money is worth 6.10% compounded semi-annually? Assume a focal date of today. Please express your answer to the nearest dollar. Sample input: 2456 for $2456.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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QUESTION 1
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Greg owes two debt payments – a payment of $5502 that was due in 14 months ago and a payment of $1603 due in 8 months. If Greg makes a payment now, what would this payment be if money is worth 6.10% compounded semi-annually? Assume a focal date of today.
Please express your answer to the nearest dollar. Sample input: 2456 for $2456.
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