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A debt of $ 5,000.00 originally contracted for 1 and a half years with interest at 6% convertible monthly. The owner agrees to a payment
A debt of $ 5,000.00 originally contracted for 1 and a half years with interest at 6% convertible monthly. The owner agrees to a payment of $ 800.00 in 2 months and another in 6 months for $ 1,100.00 and the cancellation of the debt per year. What is the final payment assuming a yield of 8% convertible monthly
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