Scheduled debt payments of $1500.00 due seven months ago, $1200.00 due two months ago, and $1800.

Published by admin at September 2, 2023

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Scheduled debt payments of $1500.00 due seven months ago, $1200.00 due two months ago, and $1800.00 due in five months are to be settled by two equal payments now and three months from now respectively. Determine the size of the equal replacement payments at 9% p.a. compounded monthly.

Hint: Let the size of the equal payments be $x, and the focal point now

Scheduled debt payments of $1500.00 due seven months ago, $1200.00 due two months ago, and $1800.

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