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A loan of $2500 taken out on April 2 requires equal payments on May 25 , July 20 , September 10 , and a final
A loan of $2500 taken out on April 2 requires equal payments on May 25 , July 20 , September 10 , and a final payment of $500 on October 15 . If the focal date is October 15 , what is the size of the equal payments at 9% simple interest? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
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