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What two equal payments

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Problem 1: A payment of $15,000 is due in 1 year and $10,400 is due in 2 years. What two equal payments, one in 3 years and one in 4 years would replace these original payments? Assume that money earns 3.50% compounded quarterly. Use the focal date in 4 years.

Reference no: EM132696939

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