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Payments of $4000 each due in four, nine, and eleven months from now are to...

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Finance

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Payments of $4000 each due in four, nine, and eleven months from now are to be settled by two equal payments due today and twelve months from now. What is the amount of the equal payments if interest is 7.35% and the agreed focal date is today? The amount of the payment is $ 5924.25 (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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