1. A loan of $14,400 is to be repaid in end-of-the-quarter payments of $600. How many payments are required to repay the loan at 10.5% compounded quarterly?

2. Scheduled payments of $1,010 due five months ago and $1,280 due today are to be repaid by a payment of $615 in four months and the balance in seven months. If money is worth 7.75% p.a. and the focal date is in seven months, what is the amount of the final payment?

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