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What should the payment be

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Question - Three payments are scheduled as follows: $1,300 is due today, $1,000 is due in five months, and $1,700 is due in eight months. The three payments are to be replaced by a single equivalent payment due ten months from now. What should the payment be if money is worth 6.0%? Use ten months from now as the focal date.

Reference no: EM132981192

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