Scheduled payments of $600, $800, and $1200 are due in one year, three years, and six years,

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Scheduled payments of $600, $800, and $1200 are due in one year, three years, and six years, respectively. What is the equivalent single replacement payment two- and-a-half years from now if interest is 7.5% compounded monthly?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 03:49 AM

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Scheduled payments of $600, $800, and $1200 are due in one year, three years, and six years,

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IY 75 CY 12 i 7512 000625 Focal date is 25 years from now E 1 60000100625 1...View the full answer

Contemporary Business Mathematics with Canadian Applications

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