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Merina is scheduled to make two loan payments to Bradford in the amount of $1,000 each, two months and nine months from now. Merina doesn't

Merina is scheduled to make two loan payments to Bradford in the amount of $1,000 each, two months and nine months from now. Merina doesn't think she can make those payments and offers Bradford an alternative plan where she will pay $775 seven months from now and another payment seven months later. Bradford determines that 8.5% is a fair interest rate. What is the amount of the second payment?

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