The single payment six months from now is required to settle the debt will be $4042.
<h3>How to calculate the amount?</h3>
The interest rate monthly will be 8/1200.
The number of time period given is 6 months.
Therefore, the future value will be:
= 2000(1 - 8/1200)^6
= 2081.35
The present value will be:
= 2000(1 - 8/1200)^3
= 1960.53
Therefore, the single payment will be:
= 2081.35 + 1960.53
= 4042
In conclusion, the correct amount is $4042.
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