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Sagot :
The single payment six months from now is required to settle the debt will be $4042.
How to calculate the amount?
The interest rate monthly will be 8/1200.
The number of time period given is 6 months.
Therefore, the future value will be:
= 2000(1 - 8/1200)^6
= 2081.35
The present value will be:
= 2000(1 - 8/1200)^3
= 1960.53
Therefore, the single payment will be:
= 2081.35 + 1960.53
= 4042
In conclusion, the correct amount is $4042.
Learn more about debt on:
brainly.com/question/1957305
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