Miquel Was Supposed to Make Three Payments of $2,000 Each-The

question 110

Short Answer

Miquel was supposed to make three payments of $2,000 each-the first one year ago, the second one year from now, and the third three years from now. He missed the first payment and proposes to pay $3,000 today and a second amount in two years. If money can earn 4.5% compounded semi-annually, what must the second payment be to make the proposed payments equivalent to the scheduled payments?

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Definitions:

High Perfectionist Standards

Refers to the setting of unrealistically demanding goals which one is unable to reach, often leading to disappointment and frustration.

Low Self-Evaluations

This refers to negative assessments individuals make about their own worth, abilities, or overall self-concept.

Plump Bodies

Refers to bodies that are full and rounded, often seen in a positive light when discussing body diversity and acceptance.

Bulimia Nervosa

An eating disorder characterized by episodes of binge eating followed by compensatory behaviors like vomiting or excessive exercise.