A Debt of $1410

question 123

Essay

A debt of $1410.00 due 6 months ago and a second debt of $1815.00 due in 4 months with interest at 6.16% p.a. are to be settled by two equal payments due now and 9 months from now respectively. Find the size of the equal payments at 7.37% p.a. with the agreed focal date now.

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Definitions:

Ethics Competency

The ability to recognize, analyze, and act upon ethical issues and dilemmas in a transparent and principled manner.

UN Global Compact

An initiative where CEOs voluntarily commit to adopting universal principles of sustainability and to undertaking actions that further the objectives of the United Nations.

Company Policy

Company policy consists of formal guidelines and regulations created by businesses to govern its operations and employee behavior.

Means-Ends

A problem-solving strategy that involves analyzing the ending condition and working backwards to figure out the necessary steps to reach that goal.