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When should he pay the debt7

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Reference no: EM133025337

1) Sam has a $1000 bill to pay in two months from now and another $1000 to pay in 6 months from now. He wants to combine the two payments into a single $2200. When should he pay the debt? Consider the interest rate to be 5.6% compounded monthly.

 

 

Reference no: EM133025337

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