Payments of $10 200

question 104

Essay

Payments of $10 200.00 due one year ago and $13 000.00 due nine months ago are to be replaced by a payment of $5800.00 now, a second payment of $10 000.00 fifteen months from now, and a final payment twenty-four months from now. What is the size of the final payment if interest is 9.2% compounded quarterly?

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Definitions:

HR Workers

Employees within the HR Department responsible for executing various human resources functions such as recruitment, employee relations, and payroll.

Social Media Sites

Online platforms where individuals and organizations can create and share content or participate in social networking, such as Facebook, Twitter, and Instagram.

MOOCs

Stands for Massive Open Online Courses, free online courses available for anyone to enroll that offer a wide variety of subjects.

Hospital Billing Clerks

Administrative professionals responsible for preparing and sending invoices for hospital services, as well as tracking payments.