Darwin is a young entrepreneur trying to keep his business afloat. He has missed two payments to a creditor. The first was for $3,485 seven months ago, and the second was for $5,320 last month. Darwin has had discussions with his creditor, who is willing to accept $4,000 one month from now and a second payment in full six months from now. If the agreed upon interest rate is 7.35% compounded monthly, what is the amount of the second payment?

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27-07-2022
Business

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Darwin is a young entrepreneur trying to keep his business afloat. He has missed two payments to a creditor. The first was for $3,485 seven months ago, and the second was for $5,320 last month. Darwin has had discussions with his creditor, who is willing to accept $4,000 one month from now and a second payment in full six months from now. If the agreed upon interest rate is 7.35% compounded monthly, what is the amount of the second payment?

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boombpomvooms2828 boombpomvooms2828 · Answer 1 · 2022-07-27T02:12:31+02:00

pls help or ill fail
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