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Daniel currently owes $ 7 , 0 0 0 to a friend who is charging him interest of 2 . 0 0 % p .

Daniel currently owes $7,000 to a friend who is charging him interest of 2.00% p.m. He is required to settle the loan with two equal payments, one today and the other in three months. Calculate the size of the payments using three months as the focal date.
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