Question

0 Example: Loan payments of $400 due 95 days ago and $700 due today

Answer 1

Answer:

$X=\ 519.48$

Step-by-step explanation:

From the question we are told that

Loan 1 $X_1=\ 400$

Loan 1 due $t_1=95days$

Loan 2 $X_2=\ 700$

Loan 2 due$t_2=0days$

Payment $Y=\ 600$

Worth of money $w=6\%$

Payment due $t=30days$

Focal date $t_f=125days$

Generally $\ 400$ was due 95days ago

Therefore

$125+90=220days$(total days to consider)

Therefore

$300+400 =700$ is due today

125days left

Given

600 due in 30days

$125-30=95days$

Generally the Final payment is mathematically given by

$400(1+ 0.06*\frac{220}{365} ) + 700(1+0.06*\frac{125}{365} )=600(1+0.06*\frac{95}{365} )+X$

$X=1128.9692 - 609.3698$

Therefore the

$X=\ 519.48$