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Determine the single payment today that would fully repay

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Reference no: EM133000580

Problem 1: Two amounts owing from the past were to be paid today. One debt was $620 from one year ago and the other was $925 from six months ago. Determine the single payment today that would fully repay the debts. Allow for simple interest at 12% per annum.

Reference no: EM133000580

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