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John has three short-term debts coming this year: (1) $200 plus simple interest at 9.2% for 8 months, due one month from now. (2) $500

John has three short-term debts coming this year: (1) $200 plus simple interest at 9.2% for 8 months, due one month from now. (2) $500 due 6 months from now (3) $800 plus simple interest at 5% for 10 months due 9 months from now. His creditor has agreed to re-finance the debts through three equal payments due two, six, and Nine months from now respectively. What will be the size of the payment if a settlement rate of 8% per annum is established, and a focal point of six months is agreed upon? Answer $510.91 (show work)

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