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Scheduled payments of $1500 due in 3 months with interest at5.9 % compounded quarterly and $800 due in 15 months with interest at5.9 % compounded
Scheduled payments of $1500 due in 3 months with interest at5.9 % compounded quarterly and $800 due in 15 months with interest at5.9 % compounded quarterly are to be replaced by two equal payments. The first replacement payment is due today and the second payment is due in 4 years. Determine the size of the two replacement payments if interest is 5.1% compounded monthly and the focal date is today. The size of the two replacement payments is
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