What amount should be accepted as equivalent, 60 days before an obligation of $1480 is due, if money can earn 6 3/4%?

To calculate the equivalent amount that should be accepted 60 days before the obligation of $1480 is due, we need to take into account the interest rate of 6 3/4%. Here are the steps to calculate it:

1. Convert the interest rate to decimal form: 6 3/4% is equal to 6.75%. Divide it by 100 to get 0.0675.

2. Determine the interest earned over 60 days. Divide 60 by 365 (assuming a year with 365 days) to find the fraction of a year: 60/365 = 0.1644. Multiply this by the interest rate to get the interest earned: 0.1644 * 0.0675 = 0.0109 (approximately).

3. Add the interest earned to 1 to find the total factor: 1 + 0.0109 = 1.0109.

4. Divide the obligation amount by the total factor to find the equivalent amount. Divide $1480 by 1.0109: $1480 / 1.0109 = $1463.21 (approximately).

Therefore, an amount of approximately $1463.21 should be accepted as equivalent 60 days before the $1480 obligation is due, assuming money can earn 6 3/4% interest.