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Sally owes $2500.00 in 2 years and $1800.00 after 5 years. However, after 2 years Sally is unable to meet her $2500.00 obligation. Through mutual
Sally owes $2500.00 in 2 years and $1800.00 after 5 years. However, after 2 years Sally is unable to meet her $2500.00 obligation. Through mutual agreement with herlender, Sally is allowed to make a payment of $1700.00 after 3 years then a final payment to fully resolve all debts after 6 years. Find the size of Sally's payment after 6 years if an interest rate of 10% compounded quarterly is used in the settlement between Sally and her lender
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