Draw a timeline in your notes, then use the one below to help you! Ordering stock from a large company requires the payment of $1500 in four months, and $2200 in nine months at 4.8% interest, compounded monthly. The full balance is refinanced and settled with a single payment of $4100. Choose a focal date of 4 months from now. f.d. 4 mo today 9 mo ? $1,500 $2,200 $4,100 n = ? IY = ? CY = ? PV, + PV2 + When should the single equivalent payment be made? Select one: O a. 21.604235 months from now O b. 35.027124 months from now c. 2.389665 years from now O 0 d. 32.675974 months from now
