Answer to Question #240827 in Financial Math for anu188

Question

A payment stream consists of three payments: $1,700 due today, $2,200 due 80 days from today, and $2,700 due 280 days from today. What single payment, 70 days from today, is economically equivalent to the payment stream if money can be invested at a rate of 4.2%? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.)