Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. two payments of $10 000 each must be made one year

Two payments of $10 000 each must be made one year and four years from...

70.2K

Verified Solution

Question

Finance

Two payments of $10 000 each must be made one year and four years from now. If money can earn 9% compounded monthly, what single payment two years from now would be equivalent to the two scheduled payments?

Select one:

A.

$8358

B.

$19 296

C.

$11 964

D.

$22 902

E.

$10 938

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Basic Math
1.2K views

Fill in the blank with the appropriate word.In clock 12 arithmetic, since 1+11=11+1=12, we say...

Basic Math
1.2K views

The following equation has two real solutions, one of which is zero.9x - 288x^3/4= 0Find...

Statistics
1.2K views

Ips claims that his secret sleep tapes cause people to become better at basic algebra...

Calculus
1.2K views

Perform the operation and simplify the result.2/3 - 5/12[Give your answer as a fraction.]Solve for...

Calculus
1.2K views

Split the angle Of find the fos Set up the sum and difference by using...

Accounting
1.2K views

This answer please The income summary account has a...

Accounting
1.2K views

Determine the adjusted cash balance for December 31, given: Balance per bank statement USD 2,981.20...

Accounting
1.2K views

HomeSuites is a chain of all-suite, extended-stay hotel properties. The chain has 20 properties with...

Accounting
1.2K views

Exercise 10-7 Page 1 of I ACCT 3110 Fall 2017/Chapter 10 Homework Exercise 10-7 Harrisburg...

Accounting
1.2K views

11) If a company pays their factory workers an hourly wage less than expected, which...

Finance
1.2K views

Max is buying a car for $28,000. He has $2,500 for a down payment. He...

Finance
1.2K views

If your company has to make a 65 million euro payment to a German company...