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A loan payment of ​$1700.00 was due 20 days ago and another payment of ​$900.00 is...

A loan payment of

​$1700.00

was due

20

days ago and another payment of

​$900.00

is due

70

days from now. What single payment

130

days from now will pay off the two obligations if interest is to be

9​%

and the agreed focal date is

130

days from​ now? The value of the payment is

​$.

​(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as​ needed.)

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Answer #1

ANSWER

Answers 1700 due 20 days ago but paid 130 days from now – 20+130 = 150 days late Y= 9:1. = 0.09. S=P(1 trt) 1700(1+60-09) y -

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