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Dan borrowed $ 7 9 5 . 0 0 today and is to repay the loan in two equal payments. The first payment is in

Dan borrowed

795.00

today and is to repay the loan in two equal payments. The first payment is in four

months

,

and the second payment is in seven months. If interest is

4 %

per annum on the

loan, what is the size of the equal

payments? Use today as the focal date.

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