A financial obligation requires the payment of $2000 now, $2500 in six months, and $4000 in one

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A financial obligation requires the payment of $2000 now, $2500 in six months, and $4000 in one year. When will a single payment of $9000 discharge the obligation if interest is 6% com- pounded monthly?
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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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