1. Other
2. Other
3. phil owes 750 in 7 months with simple interest at...

# Question: phil owes 750 in 7 months with simple interest at...

###### Question details

Phil owes $750 in 7 months with simple interest at 9% and$825 due in 13 months with simple interest at 10.5%. He has the option to repay the debt in one single payment in 8 months with simple interest at 5.25%. What is the value of the single payment if the focal date is on the day of this single payment?