Scheduled loan payments of $1105 due in 9 months and $1216 due in 24 months are rescheduled as a payment of $416 due in 39 months and a second payment due in 42 months. Determine the size of the second payment it interestis 8.9% compounded semi-annually and the foca date is 42 months from now
Scheduled loan payments of $1105 due in 9 months and $1216 due in 24 months are rescheduled as a payment of $416 due in 39 months and a second payment due in 42 months. Determine the size of the second payment it interestis 8.9% compounded semi-annually and the foca date is 42 months from now
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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11. Scheduled loan payments of $1105 due in 9 months and $1216 due in 24 months are rescheduled as a payment of $416 due in 39 months and a second payment due in 42 months. Determine the size of the second payment it interestis 8.9% compounded semi-annually and the foca date is 42 months from now
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