Jane was due to make loan payments of $1200 six months ago, $1500 one month ago, and

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Jane was due to make loan payments of $1200 six months ago, $1500 one month ago, and $700 in two months. Instead, she is to make a single payment today. If money is worth 9.8% and the agreed focal date is today, what is the size of the replacement payment?
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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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