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Scheduled payments of $1400 due in nine months with interest at 3.6% compounded quarterly and...

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Accounting

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Scheduled payments of $1400 due in nine months with interest at 3.6% compounded quarterly and $1600 due in 18 months with interest at 3.6% compounded quarterly are to be replaced by two equal payments. The first replacement payment is due today and the second payment is due in four years. Determine the size of the two replacement payments if interest is 4.4% compounded monthly and the focal date is today. The size of the two replacement payments is $ (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.) Scheduled payments of $1400 due in nine months with interest at 3.6% compounded quarterly and $1600 due in 18 months with interest at 3.6% compounded quarterly are to be replaced by two equal payments. The first replacement payment is due today and the second payment is due in four years. Determine the size of the two replacement payments if interest is 4.4% compounded monthly and the focal date is today. The size of the two replacement payments is $ (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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