Ade Has to Settle a Debt, for Which Scheduled Debt

question 132

Multiple Choice

Ade has to settle a debt, for which scheduled debt payments of $3800.00 was due seven months ago, $4700.00 was due two months ago, and $8800.00 due in five months. Debt has to be settled by two equal payments now and three months from now respectively. Determine the size of the equal replacement payments at 4.9% p.a. compounded monthly.

• A) $8650.00
• B) $8635.47
• C) $8688.25
• D) $17 270.93
• E) $17 323.72

---

Definitions:

Frequency Distribution

A frequency distribution is a statistical representation showing the number of occurrences of each distinct value in a data set.

Beef Sales

The commercial activity of selling beef products, either wholesale or retail.

Angela's Meat & Poultry

A hypothetical or specific business name, possibly referring to a retailer, wholesaler, or producer of meat and poultry products.

Telemarketers

Individuals or companies that market goods or services over the telephone.