Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. scheduled payments of $1400 due in nine months wit

Scheduled payments of $1400 due in nine months with interest at 3.6% compounded quarterly and...

60.1K

Verified Solution

Question

Accounting

image

Scheduled payments of $1400 due in nine months with interest at 3.6% compounded quarterly and $1600 due in 18 months with interest at 3.6% compounded quarterly are to be replaced by two equal payments. The first replacement payment is due today and the second payment is due in four years. Determine the size of the two replacement payments if interest is 4.4% compounded monthly and the focal date is today. The size of the two replacement payments is $ (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Scheduled payments of $1400 due in nine months with interest at 3.6% compounded quarterly and $1600 due in 18 months with interest at 3.6% compounded quarterly are to be replaced by two equal payments. The first replacement payment is due today and the second payment is due in four years. Determine the size of the two replacement payments if interest is 4.4% compounded monthly and the focal date is today. The size of the two replacement payments is $ (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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

Consider the following table for a period of six years. Returns Year Large-Company Stocks U.S. Treasury Bills Year 1 – 15.39 % 7.43 % Year 2 – 26.68 8.06 Year 3 37.37 6.01 Year...

Finance
Q

Consider the titration of a 28.0 −mL sample of 0.175 M CH3NH2 with 0.155 M HBr....

Chemistry
Q

The G protein Converts ATP into CAMP Activates adenylate cyclase Activates kinases Moves into the nucleus Which of the following...

Medical Sciences
Q

1.Please describe how hybridization tells you about chemical structures? What is a good rule of thumb...

Chemistry
Q

While former White House counsel John Dean said Nixon was in on the Watergate cover...

Biology
Q

Department Assume the following information for the Assembly Departm 20 minutes 132 000 per month...

Algebra
Q

3 The graph of a quadratic function is shown below Identify the vertex and write...

Algebra
Q

The first step in data modeling is to identify the entities or tables that the...

Accounting
Q

Problem B (7 points) Diamondback Corporation produces a product, ARIZONA. The following standard production costs...

Accounting
Q

The adjusted trial balance of Miracle Company contained the following information: Instructions: 1) Use the...

Accounting
Q

TIE RATIO MPI Incorporated has $5 billion in assets, and its tax rate is 40%....

Finance
Q

Exercise 15-11(Algo) Lessee and lessor; sales-type lease with selling profit [LO15-2,15-3] Eye Deal...

Accounting