You owed $1000.00 four months ago, $1315.00 in five months, and $1640.00 in seven months. If you made a single payment today for the full amount owing how much is the single payment if money is worth 7.5% p.a. and the agreed focal date is today?

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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You owed $1000.00 four months
ago, $1315.00 in five months, and
$1640.00 in seven months. If you
made a single payment today for
the full amount owing how much is
the single payment if money is
worth 7.5% p.a. and the agreed focal
date is today?
Transcribed Image Text:You owed $1000.00 four months ago, $1315.00 in five months, and $1640.00 in seven months. If you made a single payment today for the full amount owing how much is the single payment if money is worth 7.5% p.a. and the agreed focal date is today?
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