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I got that answer but it says it is wrong. Plz help. Thanks Two debts, the first of $600 due six months ago and the
I got that answer but it says it is wrong. Plz help. Thanks
Two debts, the first of $600 due six months ago and the second of $900 borrowed two years ago for a term of four years at 2.8% compounded annually, are to be replaced by a single payment one year from now. Determine the size of the replacement payment if interest is 1.7% compounded quarterly and the focal date is one year from now. The size of the replacement payment is $ (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)Step by Step Solution
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