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Find the equated date at which the original payments are equivalent to the single payment. State your answer in years and months (from 0 to
Find the equated date at which the original payments are equivalent to the single payment. State your answer in years and months (from 0 to 11 months).
Original Payments | Interest Rate | Frequency of Conversion | Single Payment |
$537.00 due today and | 2% | semi-annually | $2571.56 |
$1813.00 due in 6 years |
In_______ year(s) and______ month(s) the single payment will be equivalent to the original payments.
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