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Determine what is the size of the final payment

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Problem 1: Loan payments of $400 due 95 days ago and $700 due today are to be repaid by a payment of $600 thirty days from today and the balance in 125 days. If money is worth 6% and the agreed focal date is 125 days from today, what is the size of the final payment?

Reference no: EM132665955

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