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In order to pay off the most recent invoice, a company is scheduled to pay $2000...

In order to pay off the most recent invoice, a company is scheduled to pay $2000 today and $1500 in 6 months. Due to a decrease in sales, the company has chosen to renegotiate the payments. The invoice will be settled by a payment of $1000 in 3 months and a final payment 12 months from now. Determine the size of the final payment if interest is 6% p.a. compounded quarterly.

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Expert Solution

Final payment= 4713.74

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jeff jeffy answered 2 years ago
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