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Tiffany was supposed to pay Kelly $5,300 6 months ago and $1,420 in 5 months. If she wants to repay this amount with two equivalent

Tiffany was supposed to pay Kelly $5,300 6 months ago and $1,420 in 5 months. If she wants to repay this amount with two equivalent payments of $3,500 today and the balance amount in 2 months, calculate the balance amount. Assume interest is 5.40% p.a. and the agreed focal date is 2 months from now.

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