Equivalent Payments

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what payment 5 months from now would be equivalent in value to a $3,350 payment due 14 months from now? The value of money is 1.5%, simple interest. Round your answer to 2 decimal places. (3,312.73)
 

Subhotosh Khan

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what payment 5 months from now would be equivalent in value to a $3,350 payment due 14 months from now? The value of money is 1.5%, simple interest. Round your answer to 2 decimal places. (3,312.73)
Please state the formula for "future value" applying simple interest formula. Please define all the para meters of the formula.

Please show us what you have tried and exactly where you are stuck.

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Please share your work/thoughts about this problem.
 
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