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Find the equivalent replacement payments for the following scheduled payments. Original Scheduled Payment Replacement Payment Focal date Rate At an interest rate of 5%, $1400
Find the equivalent replacement payments for the following scheduled payments.
Original Scheduled Payment
Replacement Payment
Focal date
Rate
At an interest rate of 5%,
$1400 is due in 7 months.
At an interest rate of 8%,
$1900 is due in 2 years.
Three equal payments due in 7, 12, and 18 months
One year from today
13%
The size of the equal payments is $
.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)
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