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Scheduled payments of $1300, $1200, and $600 are due in one year, three-and-a-half years, and five-and-a-half years respectively. What is the equivalent single replacement payment
Scheduled payments of $1300, $1200, and $600 are due in one year, three-and-a-half years, and five-and-a-half years respectively. What is the equivalent single replacement payment two years from now if interest is 5.7% compounded monthly? The equivalent single replacement payment is $0. (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) (Enter the values from your calculator below. Values should be integers or decimals. Use all non-negative values. For each step, PUT: 99 as the value for the variable you are solving for.) Step 1: for $1300 N= 1% = PV= PMT= FV= P/Y= C/Y= Step 2: for $1200 N= 1% = PV= PMT= FV= PY= 1 CY= 1 Step2: for $600 N= 1% = PV= PMT= FV= P/Y= C/Y=
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