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A loan payment of $1500.00 was due 40 days ago and another payment of $700.00 is due 40 days from now. What single payment 110 days from now will pay off the two obligations if interest is to be 6% and the agreed focal date is 110 days from now?
The value of the payment is
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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