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Jennifer currently owes $11,000 to a friend who is charging him interest of 2.40% p.m. He is required to settle the loan with two equal

Jennifer currently owes $11,000 to a friend who is charging him interest of 2.40% p.m. He is required to settle the loan with two equal payments, one today and the other in seven months. Calculate the size of the payments using seven months as the focal date.

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