6. [5 points] A debt of $8,000 is due 4 years from now. It's to...
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Accounting
6. [5 points] A debt of $8,000 is due 4 years from now. It's to be paid off by three payments: a first payment made 1 year from now, a second payment (equal to the first) made 2 years from now, and a final payment (equal to the first) made 3 years from now. Find the first payment, rounded to the nearest dollar. An interest rate of 10% APR compounded annually is assumed for all of the four years. (A) $1,836 (B) $1,753 (C) $2,197 (D) $1,615
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