Sunday
May 3, 2015

Homework Help: Math Help Please!!!

Posted by Nieda on Thursday, September 15, 2011 at 9:41am.

2) Eight months ago, Louise agreed to pay Thelma $750 and $950 six and twelve months, respectively, from the date of the agreement. With each payment Louise agreed to pay interest at the rate of 9.5% pa. from the date of the agreement.
Louise could not follow the agreement, nothing was paid. Now she whishes to settle her obligations with a single payment, four months from now. What payment should Thelma be willing to accept if money can earn 7.75% ?

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Members