October 6, 2015

Homework Help: college math

Posted by aj on Monday, March 14, 2011 at 9:55pm.

A business associate who owes you 3600 dollars offers to pay you 3360 now, or else pay you three yearly installments of 1200 each, with the first installment paid now. Assume that the interest rate will be 7 percent (compounded continuously). Find the total of 3 installments?

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