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Three debts, the first for $1720 due four months ago, the second for $1315 due in 5 months, and the third for $1640 due in 7 months, are to be paid by a single payment today. How much is the single payment if money is worth 7.5% p.a. and the agreed focal date is today? $1275.15 $1763.00 $4609.41 $1571.26

Three debts, the first for $1720 due four months ago, the second for $1315 due in 5 months, and the third for $1640 due in 7 months, are to be paid by a single payment today. How much is the single payment if money is worth 7.5% p.a. and the agreed focal date is today? $1275.15 $1763.00 $4609.41 $1571.26

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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Three debts, the first for $1720 due four months ago, the second for $1315 due in 5 months, and the third for $1640 due in 7 months, are to be paid by a single payment today. How much is the single payment if money is worth 7.5% p.a. and the agreed focal date is today? $1275.15 $1763.00 $4609.41 $1571.26
Transcribed Image Text:Three debts, the first for $1720 due four months ago, the second for $1315 due in 5 months, and the third for $1640 due in 7 months, are to be paid by a single payment today. How much is the single payment if money is worth 7.5% p.a. and the agreed focal date is today? $1275.15 $1763.00 $4609.41 $1571.26
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