Determine the size of the equal replacement payments

Reference no: EM133422832

Question: Diana has to settle a debt, for which scheduled debt payments of $3800.00 was due seven months ago, $4700.00 was due two months ago, and $8800.00 due in five months. Debt has to be settled by two equal payments now and three months from now respectively. Determine the size of the equal replacement payments at 4.9% p.a. compounded monthly. The focal date is three months from now.

Reference no: EM133422832

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