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You should have made two car payments of $1,000, one month ago and today. The bank agrees to let you make up these missed payments
You should have made two car payments of $1,000, one month ago and today. The bank agrees to let you make up these missed payments by making two equal payments in two months and four months (from today). Calculate the size of the payments if interest is 12% compounded monthly. Suggested focal date: four months from now
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