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A debt of 4500 due in 3 years and 6000 due in 5 years is to

Question: A debt of $4500 due in 3 years and $6000 due in 5 years is to be repaid by a single payment of $1000 now and two equal payments that are due each consecutive years from now. If the interested rate is 6% compounded annually how much are each of the equal payments?

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Finance Basics: A debt of 4500 due in 3 years and 6000 due in 5 years is to

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