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What equal payments in 3 years and 4 years would replace payments of $45,000 and $62,500 in 7 years and 8 years, respectively? Assume money

What equal payments in 3 years and 4 years would replace payments of $45,000 and $62,500 in 7 years and 8 years, respectively? Assume money can earn 3.96% compounded semi-annually. Use 8 years as the focal date.

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