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Scheduled payments of $1307 due three years ago and $1495 due in six years are to be replaced by two equal payments. The first replacement
Scheduled payments of $1307 due three years ago and $1495 due in six years are to be replaced by two equal payments. The first replacement payment is due in three years and the second payment is due in nine years. Determine the size of the two replacement payments if interest is 7.8% compounded monthly and the focal date is three years 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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