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At an effective annual interest rate of i, i>0, each of the following two sets of payments has present value K: (i) A payment of

At an effective annual interest rate of i, i>0, each of the following two sets of payments has present value K: (i) A payment of 1000 immediately and another payment of 1500 at the end of one year. (ii) A payment of 2800 at the end of two years. Calculate K

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