A payment of $590 is now 93 days overdue. A second payment of $955 will be due and payable in 200 days. If money can earn an interest rate of 11%, what single amount, paid in 30 days, will be an equivalent replacement payment?
A) $1,507
B) $1,520
C) $1,545
D) $1,629
E) $1,783

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The Answer of A payment of $590 is now 93 days overdue. A second payment of $955 will be due and payable in 200 days. If money can earn an interest rate of 11%, what single amount, paid in 30 days, will be an equivalent replacement payment?
A) $1,507
B) $1,520
C) $1,545
D) $1,629
E) $1,783

A Payment of $590 Is Now 93 Days Overdue