Luciano Sold a Property and Is to Receive $14 200

question 45

Essay

Luciano sold a property and is to receive $14 200.00 in nine months, $14 000.00 in 42 months, and $15 500.00 in 57 months. The deal was renegotiated after six months at which time Luciano received a payment of $17 000.00; he was to receive a further payment of $19 000.00 later. When should Luciano receive the second payment if money is worth 10% compounded quarterly?

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Definitions:

Hyperventilate

To breathe more rapidly and deeply than is necessary for normal levels of oxygen, which can result in dizziness, light-headedness, or fainting.

Anxiety

An emotion of stress and anxiety caused by an event whose result is not yet known.

Personality Disorder

A class of mental disorders characterized by enduring maladaptive patterns of behavior, cognition, and inner experience.

Binge-Eating Disorder

An eating disorder characterized by recurrent episodes of eating large quantities of food quickly and to the point of discomfort.