Nine months ago, Muriel agreed to pay Aisha $2,900 and $802 on dates 6 and...
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Accounting
Nine months ago, Muriel agreed to pay Aisha $2,900 and $802 on dates 6 and 12 months, respectively, from the date of the agreement. With each payment Muriel agreed to pay interest at the rate of 30% from the date of the agreement. Muriel failed to make the first payment and now wishes to settle her obligations with a single payment four months from now. What payment should Aisha be willing to accept if money can earn 43/4% ? (Do not round intermediate calculations and round your final answer to 2 decimal places.) Payment $
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