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Payment of $1,200 was due four months ago, and payment of $1,500 is due in eight...

Payment of $1,200 was due four months ago, and payment of $1,500 is due in eight months.  What single payment due in three months will repay the debt, if the interest rate is 12% compounded monthly, and the focal date is in three months.

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The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.

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