Scheduled payments of $1200 due one year ago and $1000 due six months ago are to be

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Scheduled payments of $1200 due one year ago and $1000 due six months ago are to be replaced by a payment of $800 now, a second payment of $1000 nine months from now, and a final payment 18 months from now. What is the size of the final payment if interest is 10.8% compounded quarterly?
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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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