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Determine the size of the second payment

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Question - Emily's originally scheduled loan payments of $3300 due in 6 months and $2500 due in 9 months have been replaced by a payment of $4600 due in one year, and a second payment for the balance due in two years. Determine the size of the second payment if interest is 8% p.a. compounded semi-annually, and the focal date is when the final payment is due.

Reference no: EM133018386

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