You are here

A farmer and his horses

A farmer sold a team of horses for $440, but did not receive his pay for them until 1 yr, 8 mo after the sale.  He had at the same time another offer of $410 for them.  Did he gain or lose by the sale and by how much, money being worth 6%/yr? (Milne, Standard Arithmetic, 1892)

Click here to reveal the answer

"A farmer and his horses," Convergence (March 2006)