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A payment of $1,500 is due in 3 years, and $4,000 is due in 6 years. What single payment made today would be equivalent to
A payment of $1,500 is due in 3 years, and $4,000 is due in 6 years. What single payment made today would be equivalent to these original payments? Assume that money earns 4.50% compounded monthly.
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