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A demand loan of $6000.00 is repaid by payments of $2500.00 after two years, $2500.00 after fouryears, and a final payment after seven years. Interest
A demand loan of $6000.00 is repaid by payments of $2500.00 after two years, $2500.00 after fouryears, and a final payment after seven years. Interest is 9% compounded quarterly for the first two years, 10% compounded semi-annually or the next two years, and 10% compounded annually thereafter. What is the size of the final payment?
The final payment is?
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