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To borrow $ 2 , 4 0 0 , you are offered an add - on interest loan at 9 percent. Two loan payments are

To borrow $2,400, you are offered an add-on interest loan at 9 percent. Two loan payments are to be made, one at six months and the other at the end of the year. Compute the two equal payments.
Note: Do not round intermediate calculations. Round your percentage answer to 2 decimal places (i.e.,0.1234 should be entered as 12.34).
Two equal payments
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