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:

Jet Lag

A temporary condition resulting from air travel across time zones, characterized by fatigue, insomnia, and other symptoms due to disruption of the body's internal clock.

Time Zones

A geographic region in which the same standard time is used.

Electromyograph

A diagnostic tool used to measure the electrical activity produced by skeletal muscles, indicating muscle activity and health.

Muscle Tension

A condition in which muscles remain semi-contracted for an extended period, often as a response to stress or anxiety.