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Scheduled payments of $503 due three years ago and $242 due in four years are to be replaced by two equal payments. The first replacement
Scheduled payments of $503 due three years ago and $242 due in four 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 eight years. Determine the size of the two replacement payments if interest is 3.8% compounded semi-annually 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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