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A loan of $11,850 today is to be repaid by 2 equal payments due in 3 years. and 7 years respectively. Determine the size of
A loan of $11,850 today is to be repaid by 2 equal payments due in 3 years. and 7 years respectively. Determine the size of the equal payments at 3.45% compounded quarterly. Round your final answer to two decimals. Do not round intermediate steps.
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