How much should the second payment be

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Question: A debt of $2,000 due 4 years from now is to be repaid by a payment of $1,000 now and a second payment at the end of 2 years. How much should the second payment be if the interest rate is 5% compounded annually? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM131965532

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How much should the second payment be : A debt of $2,000 due 4 years from now is to be repaid by a payment of $1,000 now and a second payment at the end of 2 years.

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