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Jacqueline wants to settle two outstanding loans of $2,000.00 due in 3 years and $4,500.00 due in 5 years, by making one payment today. If
Jacqueline wants to settle two outstanding loans of $2,000.00 due in 3 years and $4,500.00 due in 5 years, by making one payment today. If the interest rate is 6.20% compounded semi-annually, how much would Jacqueline have to pay?
Please include a well-labelled timeline diagram.
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