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A debt of RM7,000 matures at the end of the second year and another of RM8,000 at the end of six years. If the debtor

A debt of RM7,000 matures at the end of the second year and another of

RM8,000 at the end of six years. If the debtor wishes to pay his debts by

making two equal payments at the end of the fourth year and the seventh

year, what are these payments assuming money is worth 6% compounded

semi-annually? Use the end of the seventh year as the focal date

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