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Determine the amount to be paid at the end of nine years

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Problem 1: Whereas the choice of a comparison date has no effect on answer obtained with compound interests, the same cannot be said of simple interest. Find the amount to be paid at the end of 9 years which is equivalent to two payments of $150 each, the first paid immediately and the second to be paid at the end of 4 years. Assume 8% simple interest is earned from the date each payment is made and use a comparison date of

a) The end of 9 years.

b) The end of 13 years.

Reference no: EM132635779

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