Question

due U Udy obligations if interest is to be 8% anu u lice Liample 7.58 er payment of $1800 is will pay off the two 4. A loan payment of $2200 was due 91 days ago, and another payment of due 45 days from now. What single payment 75 days from now will pay off obligations if interest is to be 9% and the agreed focal date is 75 days from no ants of $500 four months ago, $800 today, and

answer as soon as possible

Answer 1

We have $ 2200 loan payment due gt days ago But paid 75 days from now a total day to paid loan is 91 +75 = 166 days late - so S = Pcltot) where 7 = 94 P = 2200 and t= 1 365 2 S. 2200 1 0.09 x 166 7 365 : 2200 [1+0.050932] = 2200 x 1.040932 s = $ 2290.0s. for the second $ 1800 due 45 days from now but it ways paid to day from now - total late days are 75.45 = 30 s- Paltat - 1800 (I +60.09) Go - 1800 (1 +0.007392) . 1813.3) - S. $ 1913.31 Thus, single payment to be $2290.00+ $1813.31 = $4100 Hence = $4108.86 The single payment to be made 75 days from now 6 4103.36