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Thread: Finding X using a focal Date: Mr.D borrows $2000 now and $3000 in 4 months.

  1. #1
    New Member
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    Finding X using a focal Date: Mr.D borrows $2000 now and $3000 in 4 months.

    Q)Mr.D borrows $2000 now and $3000 in 4 months. He agrees to pay $X in6 months and $2X in 8 months (from now). Determine X using a focaldate 8 months from now at simple interest rate r = 12%.


    So far I have only plotted the dates on a timeline.

  2. #2
    Elite Member
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    You'll need to know how to calculate simple interest for a number of months. Please demonstrate any such calculation.
    "Unique Answers Don't Care How You Find Them." - Many may have said it, but I hear it most from me.

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