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A debt of $12000 due in 10 years from now is to be paid by a payment of $1000 now, $1000 in 2 years and
A debt of $12000 due in 10 years from now is to be paid by a payment of $1000 now, $1000 in 2 years and a final payment 8 years from now. What would this payment be if an interest rate of 8% compounded semiannually is assumed.
The payment is $_________
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