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7. Two debtsthe first of $800 due six months ago and the second of $1400 bor- rowed one year ago for a term of three

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7. Two debtsthe first of $800 due six months ago and the second of $1400 bor- rowed one year ago for a term of three years at 6.5% compounded annuallyare to a be replaced by a single payment one year from now. Determine the size of the replacement payment if interest is 7.5% compounded quarterly and the focal date is one year from now

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