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A woman owes $500 due now and $1000 due in 15 months. Her creditor will allow her to pay both debts in 18 months provided

A woman owes $500 due now and $1000 due in 15 months. Her creditor will allow her to pay both debts in 18 months provided that the settlement is based on 16% converted quarterly. What payment in 18 months will settle both obligations

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