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  3. a payment of $3,670 was due three years ago, and a

A payment of $3,670 was due three years ago, and a payment of $1,600 is...

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Finance

A payment of $3,670 was due three years ago, and a payment of $1,600 is due today. What single payment three years from now would be equivalent to these original payments? Assume that money earns 4.75% compounded quarterly.

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

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