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On March 1, Bear Mountain Tours borrowed $1,500. Three equal payments are required, on April 30, June 20, and August 10, as well as a final payment of $400 on September 30 of the same year. If the focal date is September 30, what is the amount of the equal payments at 6.75%?

On March 1, Bear Mountain Tours borrowed $1,500. Three equal payments are required, on April 30, June 20, and August 10, as well as a final payment of $400 on September 30 of the same year. If the focal date is September 30, what is the amount of the equal payments at 6.75%?

Advanced Engineering Mathematics
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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On March 1, Bear Mountain Tours borrowed $1,500. Three equal payments are required, on April 30, June 20, and August 10, as well as a final payment of $400 on September 30 of the same year. If the focal date is September 30, what is the amount of the equal payments at 6.75%? 2.
Transcribed Image Text:On March 1, Bear Mountain Tours borrowed $1,500. Three equal payments are required, on April 30, June 20, and August 10, as well as a final payment of $400 on September 30 of the same year. If the focal date is September 30, what is the amount of the equal payments at 6.75%? 2.
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