Scheduled payments of

$501

due

two

years

ago and

$596

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

seven

years. Determine the size of the two replacement payments if interest is

8.1%

compounded

annually

and the focal date is

three

years

from now.

Question content area bottom

Part 1

The size of the two replacement payments is

$enter your response here.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)