document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1015957>Question 1015957</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Payments of $800 and $1100 are due in 30 days and 210 days, respectively. If money can be invested at 8.75%, what single payment 90 days from now is equivalent to that payment stream? (Do not round your intermediate calculations. Round your answer to the nearest cent.)<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #632350 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=632350\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\">  Payments of $800 and $1100 are due in 30 days and 210 days, respectively. If money can be invested at 8.75%, what single payment 90 days from now is equivalent to that payment stream? (Do not round your intermediate calculations. Round your answer to the nearest cent.)<BR>\n" );
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document.write( "800*0.0875*(30/365) = $5.75<BR>\n" );
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document.write( "1100*0.0875(210/365) = $55.38<BR>\n" );
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document.write( "Sincle Payment::<BR>\n" );
document.write( "I = P*r*t<BR>\n" );
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document.write( "(5.75+55.38) = P*0.0875*(90/365)<BR>\n" );
document.write( "61.13 = P*0.02158<BR>\n" );
document.write( "P = $2833.33<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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