Question: Caroline borrowed $ 4 , 2 5 0 . 0 0 at 4 . 0 0 % p . a . She wants to settle

Caroline borrowed $4,250.00 at 4.00% p.a. She wants to settle this loan with 2 equal payments, one in 7 months and another in 13 months. Determine the size of the payments using 'now' as the focal date.

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