Payments of $700 due three months ago and $1,000 six months from now are to be replaced by one equivalent payment four months from now. What is the size of this payment if money can earn 7%?
A) $1,661.01
B) $1,700.72
C) $1,708.72
D) $1,717.05
E) $1,740.25

Question

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The Answer of Payments of $700 due three months ago and $1,000 six months from now are to be replaced by one equivalent payment four months from now. What is the size of this payment if money can earn 7%?
A) $1,661.01
B) $1,700.72
C) $1,708.72
D) $1,717.05
E) $1,740.25

Payments of $700 Due Three Months Ago and $1,000 Six