When Robin borrowed $1680.00, she agreed to repay the loan in two equal payments, to be made 50 days and 110 days from the day the money was borrowed. If interest is 2% on the loan, what is the size of the equal payments if a focal date of today is used? C The value of the equal payments is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
When Robin borrowed $1680.00, she agreed to repay the loan in two equal payments, to be made 50 days and 110 days from the day the money was borrowed. If interest is 2% on the loan, what is the size of the equal payments if a focal date of today is used? C The value of the equal payments is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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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