Mary currently owes $8,000 to a friend who is charging him interest of 2.80% p.m. He is required to settle the loan with two equal payments, one today and the other in three months. Calculate the size of the payments using three months as the focal date. $0.00 Round to the nearest cent 1 What is the principal of $7,500 that is due in 5 years if the interest rate is 2.54% 5 compounded monthly? $0.00 Round to the nearest cent