Debt Payments of $1400

question 55

Essay

Debt payments of $1400.00 due today, $5100.00 due in twenty-one months, and $1900.00 due in 4.5 years are to be combined into a single payment due three years from now. What is the size of the single payment if interest is 8.04% p.a. compounded quarterly?

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Definitions:

Cognition

The act of learning and comprehending by using one's thoughts, experiences, and sensory inputs.

Conditioned Stimulus

A stimulus that was once neutral but, through association with an unconditioned stimulus, eventually provokes a conditioned reaction.

Unconditioned Stimulus

A stimulus that naturally and automatically triggers a response without any need for prior learning.

Antecedent

An event or condition that precedes and triggers a behavior or action in the context of behavior analysis.