Ryan had to make payments of $2,000 in 6 months and $3,000 in 18 months, respectively, to a raw material supplier. What single payment 12 months from today would settle both of these payments? Assume a simple interest rate of 6% per year. Application What single payment today would replace a payment stream of $50,000 that will be paid today, again at the end of year 1. and again at the end of year 2. If money earns 4% compounded semi-annually Select one