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a few moths ago, sally had signed an agreement with Edward that she would pay him $1,100 today and another $1,470 in 8 months.

Sally cam't afford to make her first payment today and has asked Edward if she can just pay him one lump sum in 3 months that would be equivalent to the two original payments.

what should that payment be if money can earn 7.75% simple interest? use the 3 month mark as your focal date. experts your answer with 2 decimal places.