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

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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