A loan payment of $1200 was due 50 days ago and another payment of $800...
80.2K
Verified Solution
Link Copied!
Question
Finance
A loan payment of $1200 was due 50 days ago and another payment of $800 is due 60 days from now.
Question:
What single payment 100 days from now will pay off the two loan obligations if interest is to be 7% and the "Focal Date" is 100 days from now. (Draw a time line before doing the question)...Please show your work...
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!
