Debts of $900 due 2 months ago and $6000 due today are to be paid by payments of $500 in two months and a final payment in five

Question

Debts of $900 due 2 months ago and $6000 due today are to be paid by payments of $500 in two months and a final payment in five months. If 9% interest is allowed and the focal date is 5 months from now, what is the size of the final payment?

Kunduz · Accepted Answer

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