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17. Scheduled payments of $900 due in 3 months with interest at 11% compounded quarterly and $800due in 30 months with interest at 11% compounded

17. Scheduled payments of $900 due in 3 months with interest at 11% compounded quarterly and $800due in 30 months with interest at 11% compounded quarterly are to be replaced by two equal payments. The firt payment is due today and the second payment is due in three years. Determine the size of the two replacement payments if interest is 9% compounded monthly and the focal date is today. A: 978.93

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