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You have a loan outstanding. It requires making five annual payments of $2,500 each at the end of the next 5 years. Your bank has

You have a loan outstanding. It requires making five annual payments of $2,500 each at the end of the next 5 years. Your bank has offered to restructure the loan so that instead of making the five payments as originally agreed, you will make only three payment starting in three years (i.e., at t=3, t=4, and t=5). If the interest rate on the loan is 5%, what is the new payment that the bank will require you to make so that it is indifferent to the two payment schedules?

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