A contract requires payments of $750 in 100, and 200 days. What is the value of the contract today if the payments are discounted to yield 7.5% simple interest?

Discounted

A reduction applied to the price of goods, services, or securities, or the process of calculating the present value of a series of future cash flows.

Simple Interest

Interest calculated only on the initial principal of an investment or loan over a specified time period.

Contract

A legally binding agreement between two or more parties outlining obligations, rights, and conditions.