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Scheduled payments of $1500 due today and $1500 due in three years will be replaced by two payments. The first payment is due in one

Scheduled payments of $1500 due today and $1500 due in three years will be replaced by two payments. The first payment is due in one year, and the second payment, which is due in five years. Determine the size of each payment interest is 3% compounded yearly if the focal date is today?

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