Payments of $1,650 in 1 year and another $2,700 in 5 years to settle a...
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Payments of $1,650 in 1 year and another $2,700 in 5 years to settle a loan are to be rescheduled with a payment of $900 in 23 months and the balance in 28 months. Calculate the payment required in 28 months for the rescheduled option to settle the loan if money earns 3.2% compounded monthly during the above periods. Round to the nearest cent
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