Asked by Avery Braswell on Jun 07, 2024
Verified
A $3,000 payment is scheduled for 6 months from now. If money is worth 6.75%, calculate the payment's equivalent values at two-month intervals beginning today and ending one year from now.
Two-Month Intervals
Time periods that occur or are calculated every two months.
Scheduled
Planned or arranged for a specific time or sequence of events.
Equivalent Values
Items or amounts that are equal in value, function, or meaning.
- Gain proficiency in and implement the fundamentals of simple and compound interest.
- Evaluate the prospective or current value of investments with varying interest percentages.
Verified Answer
PM
pedro martinezJun 14, 2024
Final Answer :
$2,902.06 today, $2,933.99 in 2 months, $2,966.63 in 4 months, $3,000 in 6 months, $3,033.75 in 8 months, $3,067.50 in 10 months, $3,101.25 in 12 months
Learning Objectives
- Gain proficiency in and implement the fundamentals of simple and compound interest.
- Evaluate the prospective or current value of investments with varying interest percentages.