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Step 6: Now that money has been moved to the same date you can sum the two totals to determine the equivalent payment, which is \(\$ 1,030.00+\$ 970.87=\$ 2,000.87\). Note that this is financially fair to both parties. For making your $1,000 payment six months late, the creditor is charging you $30 of interest.

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The most common ways to get $1,000 instantly are to take a personal loan, a payday loan or use a credit card cash advance. But you have other options as well. …

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