Luciano sold a property and is to receive $14 200.00 in nine months, $14 000.00 in 42 months, and $15 500.00 in 57 months. The deal was renegotiated after six months at which time Luciano received a payment of $17 000.00; he was to receive a further payment of $19 000.00 later. When should Luciano receive the second payment if money is worth 10% compounded quarterly?

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The Answer of Luciano sold a property and is to receive $14 200.00 in nine months, $14 000.00 in 42 months, and $15 500.00 in 57 months. The deal was renegotiated after six months at which time Luciano received a payment of $17 000.00; he was to receive a further payment of $19 000.00 later. When should Luciano receive the second payment if money is worth 10% compounded quarterly?

Luciano Sold a Property and Is to Receive $14 200