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Scheduled payments of $1108 due one year ago and $225 due in five years are to be replaced by two equal payments. The first replacem
Scheduled payments of $1108 due one year ago and $225 due in five years are to be replaced by two equal payments. The first replacem Next question in one year and the second payment is due in seven years. Determine the size of the two replacement payments if interest is 4.7% compounded quarterly and the focal date is one year from now. The size of the two replacement payments is $(- (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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