payment of $8000 due 15 months ago and $6000 due in six months are to be replaced by a payment of $4000 today, a second payment in nine months, and a third payment, there times as large as the second, in 11/2 years. What should the last two payments be if money is worth 4% compounded quarterly?

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 14EA: How much must be invested now to receive $30,000 for 10 years if the first $30.000 is received one...
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payment of $8000 due 15 months ago and $6000 due in six months are to be replaced by a payment of $4000 today, a second payment in nine months, and a third payment, there times as large as the second, in 11/2 years. What should the last two payments be if money is worth 4% compounded quarterly?

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