(a) 1.0054333 x
(b) 0.9892501 x
(c) $ 8488.18
note: i gave the answers upside already. read the question on the bottom carefully and show me how to solve the problem and how to get the correct answers given above.
joan was advanced 3 loans: $6029.17 at the start of january, $8993.69 at the start of february and $9404.21 at the start of april. she expects to repay these debts with three equal payments: one at the start of september, one at the start of october and one at the start of december. suppose the rate of interest is 6.52%. use the start of october as a focal date.
(a) if the repayment amount is x, what is the value of the first repayment on the focal date? for example, solutions may take the form 1.3248133x or 0.9245412x. use at least 7 decimal places.
(b) if the repayment amount is x, what is the value of the third repayment on the focal date? for example, solutions may take the form 1.3248133x or 0.9245412x. use at least 7 decimal places.
(c)given that total debts = total repayments, what is the value of x - the unknown equal payment?