Jane was due to make loan payments of $1933 eight months ago, $3002 three month ago, and $426 in four months. Instead, she is to make a single payment today. If money is worth 8.1% 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.)

Jane was due to make loan payments of $1933 eight months ago, $3002 three month ago, and $426 in four months. Instead, she is to make a single payment today. If money is worth 8.1% 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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Similar questions

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Devsi
On January 1, Yumati Electric borrows $700,000 at an interest rate of 6% today and will repay this amount by making 14 semiannual payments beginning May 31. What is the approximate amount of each payments that Yumati will need to make? (Use spreadsheet software or a financial calculator to calculate your answer. Do not round any intermediary calculations, and round your final answer to the nearest dollar.)
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Please correct answer and don't use hend raiting
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