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Two debts, the first of 900$ due 9 months ago and the second of 1500$ borrowed two years ago for a term of four years
Two debts, the first of 900$ due 9 months ago and the second of 1500$ borrowed two years ago for a term of four years at 7.2% compounded annually, are to be replaced with a single payment one year from now. Determine the size of the replacement payment if interest is 6% compounded quarterly and the focal date is one year from now
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