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Question 21 (1 point) You purchase a piece of land on Hornby Island with a cash price of $400,000. You agree to make two payments

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Question 21 (1 point) You purchase a piece of land on Hornby Island with a cash price of $400,000. You agree to make two payments the first payment in 14 months will be twice as large as the second payment in 2 years. What is the size of the payment made in 14 months if the interest rate is 6% simple? (use 2 years as your focal date)

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