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A $5500 payment due 2 1/2 years ago has not been paid. If money can earn 3.50% compounded annually, what amount paid 3 1/2 years

A $5500 payment due 2 1/2 years ago has not been paid. If money can earn 3.50% compounded annually, what amount paid 3 1/2 years from now would be the economic equivalent of the missed payment? (Round your answer to 2 decimal places.)

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