Chapter 9-A 11. Waldon Toys owes $3000 due in two years with interest at 11% compounded semi-annually and $2500 due with interest in fifteen months at 9% compounded quarterly. If the company wants to discharge these debts by making two equal payments, the first now and the second eighteen months from now, what is the size of the two payments if money is now worth 8.4% compounded monthly? The size of each of the two payments is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Chapter 9-A 11. Waldon Toys owes $3000 due in two years with interest at 11% compounded semi-annually and $2500 due with interest in fifteen months at 9% compounded quarterly. If the company wants to discharge these debts by making two equal payments, the first now and the second eighteen months from now, what is the size of the two payments if money is now worth 8.4% compounded monthly? The size of each of the two payments is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 5Q: If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the...

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