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Problem 1: A demand loan of $4000.00 is repaid by payments of $2000.00 after two years, $2000.00 after four years, and a final payment after six years. Interest is 5% compounded quarterly for the first two years, 6% compounded monthly for the next two years, and 6% compounded annually thereafter. What is the size of the final payment?

Reference no: EM132843902

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