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A loan of $2291 borrowed today is to be repaid in three equal installments due in one-and-a-half years, four years, and five-and-a-half years, respectively. What
A loan of $2291 borrowed today is to be repaid in three equal installments due in one-and-a-half years, four years, and five-and-a-half years, respectively. What is the size of the equal installments if money is worth 9.7% compounded monthly?
The payments are each $ ____.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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