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Scheduled payments of $2000 due now and $2000 due in four years are to be replaced by a payment of $2000 due in two years and a second payment due in...
Scheduled payments of $2000 due now and $2000 due in four years are to be replaced by a payment of $2000 due in two years and a second payment due in seven years. Determine the size of the second payment if interest is 10.5% compounded annually and the focal date is seven years from now