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Casey currently owes $ 1 0 , 0 0 0 to a friend who is charging him interest of 2 . 4 0 % p

Casey currently owes $10,000 to a friend who is charging him interest of 2.40% p.m. He is required to settle the loan with two equal payments, one today and the other in five months. Calculate the size of the payments using five months as the focal date. (Round to the nearest cent)
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