Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. 10 a few months ago, sally had signed an agreemen

10 A few months ago, Sally had signed an agreement with Edward that she...

60.1K

Verified Solution

Question

Finance

image

10

A few months ago, Sally had signed an agreement with Edward that she would pay him $1,125 today and another $1,140 in 8 months. Sally can't afford to make her first payment today and has asked Edward if she can just pay him one lump sum in 3 months that would be equivalent to the two original payments. What should that payment be if money can earn 6.00% simple interest? Use the 3 month mark as your focal date. Express your answer with 2 decimal places

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Explain and describe the key differences between these two sets of experiments: Sets of Experiments I: HCV...

Medical Sciences
Q

xample 2 Figure shows a long straight wire carrying current I and a square conducting...

Physics
Q

8 Phase difference at the central point changes by 1 3 when a thick film...

Physics
Q

eaving the Forum at 12 00 noon Caesar traveled west at 4 mph and Brut...

Basic Math
Q

Question 1 Solve the equation for 2 in C 2 8 7i z 4 28i...

Algebra
Q

Solve the following exponential equation Use logarithms to express the solution in its exact form...

Algebra
Q

Data related to the inventories of Kimzey Medical Supply are presented below! surgical Selling price...

Accounting
Q

JART manufactures and sells underwater markers. Its contribution margin income statement follows. A potential...

Accounting
Q

What are the two market methods managers can use to determine selling prices? Provide the...

Accounting
Q

Jackson County Senior Services is a nonprofit organization devoted to providing essential services to seniors...

Accounting
Q

question 1- why are these dates nevessary and question 2 Exercises...

Finance
Q

AT Anne Componen wieder etter om. Analyse des 20 years. Their wey get what they?...

Finance