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Posted on Jul 10, 2024

Lauren currently owes $ 7 , 0 0 0 to a friend who is charging him interest of 1 . 6 0 % p .

Lauren currently owes $

7, 000

to a friend who is charging him interest of

1.60 %

.

.

He is required to settle the loan with two equal payments, one today and the other in two months. Calculate the size of the payments using two months as the focal date.

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