on february 1 the miro company needs to purchase some office equipment the company i 3387317

On February 1, the Miro Company needs to purchase some office equipment. The company is presently short of cash and expects to be short for several months. The company treasurer has indicated that he could pay for the equipment as follows: Date Payment April 1 ……………………………… $150 June 1 ………………………………. 300 Aug. 1 ………………………………. 450 Oct. 1 ……………………………….. 600 Dec. 1 ………………………………. 750 A local office supply firm will agree to sell the equipment to the firm now and accept payment according to the treasurer s schedule. If interest will be charged at 3% every 2 months, with compounding once every 2 months, how much office equipment can the Miro Company buy now?

 

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