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7) Payments of $5100 each due in five, ten, and fourteen months from now are to be settled by three equal payments due today, seven
7) Payments of $5100 each due in five, ten, and fourteen months from now are to be settled by three equal payments due today, seven months from now, and eleven months from now. What is the size of the equal payments if interest is 8.75% and the agreed focal date is today
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