Two payments of $8,000 in 60 days and $5,000 in 90 days are to be replaced by a payment now and another payment of $2,500 in 30 days. If interest is 7.3% annually, determine the value of the payment now.
A) $10,658.12
B) $10,522.44
C) $10,485.31
D) $10,331.64
E) $10,280.48

Question

Quizplus · Accepted Answer

The Answer of Two payments of $8,000 in 60 days and $5,000 in 90 days are to be replaced by a payment now and another payment of $2,500 in 30 days. If interest is 7.3% annually, determine the value of the payment now.
A) $10,658.12
B) $10,522.44
C) $10,485.31
D) $10,331.64
E) $10,280.48

Two Payments of $8,000 in 60 Days and $5,000 in 90