How large must each of the 2 payments be

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Reference no: EM13302095

One year from today you must make a payment of $13,000. To prepare for this payment, you plan to make 2 equal quarterly deposits, at the end of Quarters 1 and 2, in a bank that pays 7% nominal interest, compounded quarterly. How large must each of the 2 payments be?

Reference no: EM13302095

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