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A payment of $ 1 2 , 6 2 5 is due in 1 year, $ 1 8 , 0 0 0 is due in

A payment of $12,625 is due in 1 year, $18,000 is due in 4 years, and $8,700 is due in 6 years. What single equivalent payment made today would replace the three original payments? Assume that money earns 4.50% compounded monthly.

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