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Two payments of $ 8 5 0 and $ 6 0 0 must be made two years and five years from now respectively. If money

Two payments of $850 and $600 must be made two years and five years from now respectively. If money can earn 4% compounded semiannually, what single payment, three years from now, would be equivalent to the two scheduled payments?
Group of answer choices
$1,609.22
$1,477.16
$1,438.65
$1,404.19
$1,578.88

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