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Scheduled payments of $834 due two years ago and $955 due in five years are to be replaced by two equal payments. The first replacement
Scheduled payments of $834 due two years ago and $955 due in five years are to be replaced by two equal payments. The first replacement payment is due in two years and the second payment is due in seven years. Determine the size of the two replacement payments if interest is 4.7% compounded semi-annually and the focal date is two years from now.
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