Question: A $ 7 0 0 0 payment due 1 1 / 2 years ago has not been paid. If money can earn 4 . 2

A $7000 payment due 11/2 years ago has not been paid. If money can earn 4.25% compounded annually, what amount paid 21/2 years from now would be the economic equivalent of the missed payment? (Round your answer to 2 decimal places.)

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