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Alex borrowed $2,600 today and is to repay the loan in two equal payments, one in 6 months and one in 9 months from now.
Alex borrowed $2,600 today and is to repay the loan in two equal payments, one in 6 months and one in 9 months from now. If interest on the loan is 8% p.a., what is the size of each of the equal payments if a focal point of today is used?
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