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Two debts, the first of $800 due six months ago and the second of $ 1900 borrowed one year ago for a term of three
Two debts, the first of $800 due six months ago and the second of $ 1900 borrowed one year ago for a term of three years at 4.4 % compounded annually, are to be replaced by a single payment one year from now. Determine the size of the replacement payment if interest is 5.3 % compounded quarterly and the focal date is one year from now.
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