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1)Scheduled debt payments of $600 each are due three months and six months from now. If interest at 10% is allowed, what single payment today is
1)Scheduled debt payments of $600 each are due three months and six months from now. If interest at 10% is allowed, what single payment today is required to settle the debt?
3) A loan payment of $1000 was due 60 days ago, and another payment of $1200 is due 30 days from now. What single payment 90 days from now will pay off the two loans if interest is at 8% and the agreed focal date is 90 days from now?
5) Jay was due to make loan payments of $500 four months ago, $800 today, and $400 in three months. He has agreed instead to make a single payment one month from today. If money is worth 10.5% and the agreed focal date is one month from today, what is the size of the replacement payment?
7) Loan payments of $400 due 95 days ago and $700 due today are to be repaid by a payment of $600 thirty days from today and the balance in 125 days. If money is worth 6% and the agreed focal date is 125 days from today, what is the size of the final payment?
9) Dan borrowed $1100 today and is to repay the loan in two equal payments, one in four months and one in six months. If interest is 8.5% of the loan, what is the size of the equal payments if a focal date of today is used?
11) Ruben repaid $800, paying back two equal outstanding loans from seven months ago and five months ago. If interest in 11% on the loans, and the agreed focal date is today, what was the size of the equal amounts borrowed.
13) Jessica should have made two payments of $800 each. The first was due 60 days ago and the second payment was due 30 days ago. The two original scheduled payments are to be settled by two equal payments to be made today and 60 days from now. If interest allowed is 7.25% and the agreed focal date is today, what is the size of the equal payments?
15) Jerry borrowed $4000. The loan is to be repaid by three equal payments due in 4, 8, and 12 months from now. Determine the size of the equal payments at 8.5% with a focal date of today.
