QUESTION 2 David owes a business partner $5539 which was due 2 years ago and $3584 which is due in 1 year. David agrees to pay back both debts at the same time in 6 months If money eams 45% per year compounded quarterly, how much will he pay back in total? Round your final answer to 2 decimal places (nearest cent) and do not enter a dollar sign or a negative value.
QUESTION 2 David owes a business partner $5539 which was due 2 years ago and $3584 which is due in 1 year. David agrees to pay back both debts at the same time in 6 months If money eams 45% per year compounded quarterly, how much will he pay back in total? Round your final answer to 2 decimal places (nearest cent) and do not enter a dollar sign or a negative value.
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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Transcribed Image Text:QUESTION 2
David owes a business partner $5539 which was due 2 years ago and $3584 which is due in 1 year. David agrees to pay back both debts at the same time
in 6 months If money earms 45% per year compounded quarterly, how much will he pay back in total? Round your final answer to 2 decimal places
(nearost cent) and do not enter a dollar sign or a negative value.
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