Krista borrowed $16,231. The loan is to be repaid by three equal payments due in 65, 153, and 274 days from now respectively. Determine the size of the equal payments at an interest rate of 9% with a focal date of today. The size of the equal payments is S Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Krista borrowed $16,231. The loan is to be repaid by three equal payments due in 65, 153, and 274 days from now respectively. Determine the size of the equal payments at an interest rate of 9% with a focal date of today. The size of the equal payments is S Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter27: Time Value Of Money (compound)

Section: Chapter Questions

Problem 1E

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