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Kathy owes $4975 in 6 years and $12500 in 11 years. Fortunately, Kathy won a state lottery and wanted to pay off both obligations at

Kathy owes $4975 in 6 years and $12500 in 11 years. Fortunately, Kathy won a state lottery and wanted to pay off both obligations at the end of 3 year(s). By mutual agreement with the lender, she was allowed to settle both debts with a single payment at the end of 3 years based on a simple interest rate of 16.75%. Determine the amount of this single payment.

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