Question: What three equal payments, one in 2 years, one in 4 years, and one in 6 years would replace one single payment of $22,000 due

What three equal payments, one in 2 years, one in 4 years, and one in 6 years would replace one single payment of $22,000 due today at an interest rate of 5.52% compounding monthly? Use 'today' as the focal date.

Please include a well-labelled timeline diagram. Full solutions should be shown on separate sheets of paper. Submit your solutions.

Round to the nearest cent

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