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Two debts, the first of $1500 due 6 months ago and the second of $1000 borrowed one years ago for a term of three years
Two debts, the first of $1500 due 6 months ago and the second of $1000 borrowed one years ago for a term of three years at 7.1% compounded annually, are to be replaced with a single payment one year from now. Determine the size of the replacement payment if interest is 8.1% compounded quarterly and the focal date is one year from now
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