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Payments of $850 due two years ago and $1760 due six months ago have not been made. The proposed alternative is two equal payments, three
Payments of $850 due two years ago and $1760 due six months ago have not been made. The proposed alternative is two equal payments, three months and nine months from now, that will put the payee in an equivalent economic position allowing that money can earn 5.6% compounded quarterly. What is the amount of each of these payments?
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