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Christina owes $2,500 due in 2 years and $4,000 due in 5 years. To settle these obligations, she agrees to pay $1,000 on the first
Christina owes $2,500 due in 2 years and $4,000 due in 5 years. To settle these obligations, she agrees to pay $1,000 on the first year and another payment on the 4th year. How much is the payment on the 4th year money is worth 16% compounded quarterly?
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