Debt Payments of $1000

question 36

Essay

Debt payments of $1000.00 due today, $500.00 due in 90 days, and $500.00 due in 120 days are to be combined into a single payment to be made 120 days from today. What is that single payment if money is worth 9.00% p.a. and the agreed focal date is 120 days from today?

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Definitions:

State's Jurisdiction

The authority given to a state to govern or legislate within its geographical boundaries.

Jurisdiction

Jurisdiction refers to the official power to make legal decisions and judgments, often pertaining to a specific geographic area or type of legal case.

Doing Business

Refers to the broad range of activities a company engages in as it goes about its day-to-day operations.

Online Dispute Resolution

The use of technology and the internet to facilitate the resolution of disputes between parties, often without requiring physical presence in a courtroom.