00:01
Hi from the question given that here scheduled payment of 800 due two months ago.
00:11
So due two months ago is 800 and 1 ,200 due in one month or to be repaid by the payment of $1 ,000 today.
00:24
So today is $1 ,000 and in one month, and in one month, or to be repaid by the payment of $1 ,000 today.
00:28
So today is $1 ,000.
00:34
And in one month, from today in one month the repaid amount is dollar thousand two hundred so and the balance in three months so first from the time limit that is two month ago the payment is eight hundred dollar and today is thousand dollar this is today and in one month or to be repaid by the payment of thousand 200 so after one month dollar thousand 200 so here we need to find the amount of the final payment if the interest is 7 point rate of interest is 7 .75 percentage and the focal date is one month from now so this is the focal date and here we need to find the future value so future value is equal to p times of 1 plus are t, this is the future value formula, but according to the given information, focal date is the date of the last payment as this day is the amount of the day.
02:05
Dip is future value will be equal to dollar.
02:10
P is initially 8 % plus 1.
02:14
Sorry, rate of interest is 7 .75 divided by 100 and time period is 3 months.
02:24
Since it is 2 plus 1, totally the focal date is 3 month.
02:28
So 3 by, we need to convert this into year.
02:32
So 3 by 12.
02:35
Plus, on the focal date, the repaid amount is $1 ,200.
02:44
So simplify this, we obtain $1 .81.
02:51
Sorry, 815 .5 plus dollar, $1 ,200...