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4. (15 points) Carol owes $875 in 3 years and $1500 in 8 years. Carol is unable to meet her $875 obligation at the end

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4. (15 points) Carol owes $875 in 3 years and $1500 in 8 years. Carol is unable to meet her $875 obligation at the end of 3 years. By mutual agreement with the lender, Carol is allowed to pay off both debts at the end of 6 years based on a simple interest rate of 9.25%. Determine the amount of this single payment

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