1. A financial obligation requires payments of $500 six months from now, and $1000 nine months from now. The creditor has agreed to re-finance the debts by a single equivalent payment seven months from now. Money is worth 12% simple interest to the creditor. A) What will be the size of the equivalent payment if a focal point of seven months is agreed upon? B) What will be the size of the equivalent payment if a focal point today is agreed upon?