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Scheduled payment of $1010 due five months ago and $1280 due today are to be repaid by a payment of $615 in four month and

  • Scheduled payment of $1010 due five months ago and $1280 due today are to be repaid by a payment of $615 in four month and the balance in seven months. If money is worth 7.75% p.a , and the focal date is in seven months, what is the amount of the final payment?

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