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Two debts the first of $1000 due nine months ago, and the second of $1100 borrowed two years ago for a term of four years
Two debts the first of $1000 due nine months ago, and the second of $1100 borrowed two years ago for a term of four years at 5.2% compounded annually, are to be replaced by a single payment one year from now. Determine the size of the replacement payment if interest is 6.4% compounded quarterly and the focal date is one year from now
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College Algebra DeMYSTiFieD
Authors: Rhonda Huettenmueller
2nd Edition
0071815856, 9780071815857
