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Author Question: Two payments of $10 000 each must be made one year and four years from now. If money can earn 9% ... (Read 126 times)

Marty

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on: Jun 6, 2019

Question 1

A court ruled in favour of Professor Dumbledore. Professor Dumbledore successfully claimed that that Professor Umbridge defaulted on two payments of 1000 galleons each. One payment was due 18 months ago and the other 11 months ago. What is the appropriate amount for the court to order Umbridge to pay immediately if the court uses 6% compounded monthly for the interest rate money can earn?

Question 2

Two payments of $10 000 each must be made one year and four years from now. If money can earn 9% compounded monthly, what single payment two years from now would be equivalent to the two scheduled payments?
◦ $19 296
◦ $11 964
◦ $10 938
◦ $22 902
◦ $8358
Contemporary Business Mathematics with Canadian Applications ¦ Hummelbrunner, Halliday, Coombs ¦ 11th Edition
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Marked as best answer by Marty on Jun 6, 2019

kilada

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Reply #1 on: Jun 6, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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Marty

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Reply 2 on: Jun 6, 2019
Great answer, keep it coming :)

elyse44

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Reply 3 on: Yesterday
Excellent

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