How much is the single payment

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Question 1: Two debts, the first for $1,200 due in 2 months, and the second for $1,400 due in 4 months are to be paid by a single payment today. How much is the single payment if interest rate is 9.6% pa and focal date is today?

Option 1: $1,356.6

Option 2: $2,664

Option 3: $2,537.7

Option 4: $2,525.62

Reference no: EM132564182

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