Question: Scheduled loan payments of $591 due in 6 months and $1111 due in 21 months are rescheduled as a payment of $1374 due in 36
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Scheduled loan payments of
$591
due in
6
months and
$1111
due in
21
months are rescheduled as a payment of
$1374
due in
36
months and a second payment due in
48
months. Determine the size of the second payment if interest is
8.2%
compounded
quarterly
and the focal date is
48
months from now.The size of the second payment is
$.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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