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What single payment today would settle the debt

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Sue had loan payments of $1,000 that was due 3 MONTHS AGO (and was not paid) and $1,500 due in 6 MONTHS. What single payment today would settle the debt, if money is worth 7% compounded quarterly?

Reference no: EM131171731

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What single payment today would settle the debt : Sue had loan payments of $1,000 that was due 3 MONTHS AGO (and was not paid) and $1,500 due in 6 MONTHS. What single payment today would settle the debt, if money is worth 7% compounded quarterly?
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