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  3. scheduled payments of $1199, $274, and $656 are du

Scheduled payments of $1199, $274, and $656 are due in one year, three-and-a-half years, and...

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Question

Accounting

Scheduled payments of

$1199,

$274,

and

$656

are due in

one

year,

three-and-a-half

years, and

five

years respectively. What is the equivalent single replacement payment

three

years from now if interest is

9.6%

compounded quarterly?The equivalent single replacement payment is

$

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Answer & Explanation Solved by verified expert
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