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If money earns 6.06% compounded quarterly, what single payment in three years would be equivalent to a payment of $3,110 due three years ago, but

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If money earns 6.06% compounded quarterly, what single payment in three years would be equivalent to a payment of $3,110 due three years ago, but not paid, and $500 today? Please include a well-labelled timeline diagram. Full solutions should be shown on separate sheets of paper. Submit your solutions. Round to the nearest cent

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