question archive Two debts, the first of $1300 due six months ago and the second of $1800 borrowed two years ago for a term of five years at 3

Subject:MathPrice: Bought3

Two debts, the first of $1300 due six months ago and the second of $1800 borrowed two years ago for a term of five years at 3.7% compounded annually, are to be replaced by a single payment one year from now. Determine the size of the replacement payment if interest is 2.8% compounded quarterly and the focal date is one year from now. The size of the replacement payment is $ (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)