Question: Calculate the single equivalent payment today that would replace three payments of $18,400, $21,065, and $12,560, in two years, four years, and five years, respectively,

Calculate the single equivalent payment today that would replace three payments of $18,400, $21,065, and $12,560, in two years, four years, and five years, respectively, if money is earning interest at a rate of 3% compounded monthly.

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