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Calculate the value of a single payment

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Question - A payment of $250 is due in 4 months and another payment of $1000 is due in 10 months. Calculate the value of a single payment to be made in 7 months that is equivalent to these two payments if money earns 5.5% p.a. simple interest. Use ‘now' as the focal date.

Reference no: EM132564557

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