What single payment in two years would replace a payment of $18,650 due one year ago and

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What single payment in two years would replace a payment of $18,650 due one year ago and a payment of $21,400 due two years and two months ago? Assume that both payments were not paid and that the interest rate is 4% compounded quarterly.

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Mathematics Of Business And Finance

ISBN: 9781927737545

4th Edition

Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans

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