$22,000 was due 90 days ago. It is now to be repaid in three equal payments in 30, 60 and 180 days from now. If interest is 5.92% annually, determine the value if the focal date is today.
A) $8,627.35
B) $7,935.12
C) $7,727.54
D) $7,549.67
E) $7,182.67

Question

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The Answer of $22,000 was due 90 days ago. It is now to be repaid in three equal payments in 30, 60 and 180 days from now. If interest is 5.92% annually, determine the value if the focal date is today.
A) $8,627.35
B) $7,935.12
C) $7,727.54
D) $7,549.67
E) $7,182.67

$22,000 Was Due 90 Days Ago