Two payments of $17,000 and $5,400 are due in 1 year and 2 years, respectively. Calculate the two equal payments that would replace these payments, made in 9 months and in 4 years if money is worth 10.5% compounded quarterly. $0.00 Round to the nearest cent

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
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Two payments of $17,000 and $5,400 are due in 1 year and 2 years, respectively.
Calculate the two equal payments that would replace these payments, made in 9
months and in 4 years if money is worth 10.5% compounded quarterly.
$0.00
Round to the nearest cent
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Transcribed Image Text:Two payments of $17,000 and $5,400 are due in 1 year and 2 years, respectively. Calculate the two equal payments that would replace these payments, made in 9 months and in 4 years if money is worth 10.5% compounded quarterly. $0.00 Round to the nearest cent SAVE PROGRESS f12 ►►I H a 40. + 8 IAA f10 ▶11 1/4 P 1/2 3/4 { A [[A] SUBMIT ENG US insert ]]
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