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Sasha promised to pay $3000 in 2 years and $5000 in five years. If she replaces those payments with a payment of $4000 in four years and three months and another payment of $6000, and money is worth 10% compounded quarterly, when should she make the second payment of $6000? The payment should be made quarters from now. (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)

Sasha promised to pay $3000 in 2 years and $5000 in five years. If she replaces those payments with a payment of $4000 in four years and three months and another payment of $6000, and money is worth 10% compounded quarterly, when should she make the second payment of $6000? The payment should be made quarters from now. (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)

Essentials Of Investments
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
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1 Sasha promised to pay $3000 in 2 years and $5000 in five years. If she replaces those payments with a payment of $4000 in four years and three months and another payment of $6000, and money is worth 10% compounded quarterly, when should she make the second payment of $6000? The payment should be made quarters from now. (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)
Transcribed Image Text:1 Sasha promised to pay $3000 in 2 years and $5000 in five years. If she replaces those payments with a payment of $4000 in four years and three months and another payment of $6000, and money is worth 10% compounded quarterly, when should she make the second payment of $6000? The payment should be made quarters from now. (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)
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