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Elizabeth owes $12,000 to a friend who is charging him simple interest of 4.50% p.a. He is required to settle the loan with two equal

Elizabeth owes $12,000 to a friend who is charging him simple interest of 4.50% p.a. He is required to settle the loan with two equal payments, one today and the other in two months. Calculate the size of the equal payments using two months as the focal date

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