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(Solved): Two debts, the first of $1900 due three months ago and the second of $1200 borrowed two years ago f ...



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Two debts, the first of due three months ago and the second of borrowed two years ago for a term of five years at compounded annually, are to be replaced by a single payment one year from now. Determine the size of the replacement payment if interest is compounded quarterly and the focal date is one year from now. The size of the replacement payment is (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)


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We are provided with the information and asked to compute the future value after 1 year from now.
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