Debts of $2800

question 84

Essay

Debts of $2800.00 due three months from now and $4600.00 due twenty-one months from now are to be settled by two equal payments due in three months and nine months from now respectively. Determine the size of the equal replacement payments if interest is 5.5% p.a. compounded quarterly.

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Definitions:

Voluntary Motor

Pertaining to movements that are under the conscious control of the brain, intended to perform specific actions.

Sensory Functioning

Refers to the efficiency and accuracy with which the senses, such as hearing, vision, touch, taste, and smell, operate and process external stimuli.

Factitious Disorder

A disorder in which a person feigns or induces symptoms, typically for the purpose of assuming the role of a sick person.

Illness Anxiety Disorder

A disorder in which people are chronically anxious about and preoccupied with the notion that they have or are developing a serious medical illness, despite the absence of somatic symptoms. Previously known as hypochondriasis.