Short Answer
Payments of $2300 due 18 months ago and $3100 due in three years are to be replaced by an equivalent stream of payments consisting of $2000 today and two equal payments due two and four years from now. If money can earn 9.75% compounded semiannually, what should be the amount of each of these two payments?
Correct Answer:
Verified
Correct Answer:
Verified
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