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I need Your help. 1. Scheduled payments of $1103 due one ago and $842 due in five years are to be replaced by two equal
I need Your help.
1. Scheduled payments of $1103 due one ago and $842 due in five years are to be replaced by two equal payments. The first replacement payment is due in two years and the second payment is due in eight years. Determine the size of the two replacement payments if interest is 9.9% compounded annually and the focal date is two years from now.
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