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Q4. A debt is scheduled to be paid off with a payment of $800 three months from today and a payment of $1100 twelve months

Q4. A debt is scheduled to be paid off with a payment of $800 three months from today and a payment of $1100 twelve months from today. The payment plan has been renegotiated so that the loan can be paid off with a single payment eight months from today. Find the single payment. The interest rate is 12% compounded monthly. Answer $1897.89

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