Question Help
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?