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Two payments of $10 000 each must be made one year and four years from...

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Finance

Two payments of $10 000 each must be made one year and four years from now. If money can earn 9% compounded monthly, what single payment two years from now would be equivalent to the two scheduled payments?

Select one:

A.

$8358

B.

$19 296

C.

$11 964

D.

$22 902

E.

$10 938

Answer & Explanation Solved by verified expert
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