A person owes R600 due in four months and R700 due in nine months. Determinethe equal payments necessary to equitably discharge the two debts, if made at theends of three months and six months respectively, assuming 6% simple interest.

Here, Payment in four month is R600 Payment in nine month is R700 Interest Rate is 6%

Answered: A person owes R600 due in four months…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Similar questions

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A person owes R600 due in four months and R700 due in nine months. Determine the equal payments necessary to equitably discharge the two debts, if made at the ends of three months and six months respectively, assuming 6% simple interest.