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A contract requires payments of $ 4 9 5 4 . 0 0 today , $ 4 0 0 4 . 0 0 in 3

A contract requires payments of $4954.00today,$4004.00 in 3years, and $2583.00 in 5 years. When can the contract be fulfilled by a single payment equal to the sum of the required payments if money is worth 7% p.a. compounded
semi-annually? State your answer in years and months(from 0 to 11 months).

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