7. You are owed payments of $400 due today, $500 due in five months, and $618 due in one year. You have been approached to accept a single payment nine months from now with interest allowed at 12% per annum. How much will the single payment be? 8. What should the amount of each payment if a $2500 loan at 3.5% is to be repaid by three equal payments due two months, four months, and seven months following the date of the loan