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Luis had to make a payment of $ 1 , 5 5 0 in 1 2 months and $ 2 , 8 0 0 in

Luis had to make a payment of $1,550 in 12 months and $2,800 in 15 months, to a raw material supplier. What single payment in 5 months would settle both these payments? Assume a simple interest rate of 5.75% p.a. and use 5 months from now as the focal date.

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