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A loan of $3000 is taken out today and is due in 3 years with interest at j4 = 10%. Suppose instead that 1 year

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A loan of $3000 is taken out today and is due in 3 years with interest at j4 = 10%. Suppose instead that 1 year and the second at the end the loan is to be repaid with 2 equal payments, the first at the end of 2 years. If money is worth j2 = 6%, what are the 2 payments? 5

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