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A debt of $5257 is to be settled by two equal payments due in 2 months and 8 months respectively. Determine the amount of the
A debt of $5257 is to be settled by two equal payments due in 2 months and 8 months respectively. Determine the amount of the equal payments if money is worth 5% compounded monthly and the focal date is today.
Please express your answer to the nearest dollar. Sample input: 2456 for $2456.
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