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Ravindran borrowed $ 1 5 , 0 0 0 that is to be settled with the following three installments: the first payment of $ 1

Ravindran borrowed $15,000 that is to be settled with
the following three installments: the first payment of
$10,000 in four months and two equal payments, one in
six months and the other in one year. Calculate the size
of each of the equal payments if the interest charged was
4.75% p.a. Let the focal date be one year from now.
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