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Maths and Finance help neede please help?


Joe Bloggs has a debt of 拢1,000 due in 1 years time, a debt of 拢1,000 due in 2 years time
and a debt of 拢5,000 due in 4 years time. The prevailing AER is 10%.
If Joe is allowed to discharge these debts by making equal annual payments of 拢P in
arrears each year for 10 years, find this annual payment.
If instead he is allowed to discharge the debts at a time t (to be determined) by a single
payment of 拢7,000 when should that payment be made?

I think this sounds like a question for a class. Sorry, I won't help you cheat in your class.

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