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Payments of $920 and $1210 were scheduled to be paid today and 8 months from...

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Accounting

Payments of $920 and $1210 were scheduled to be paid today and 8 months from now, respectively. What total payment today would place the payee in the same financial position as the scheduled payments? Money can earn 8.60%. (Do not round intermediate calculations and round your final answer to 2 decimal places.)

this is the incorrect answer So, the total payment of $2,062.81 today will place the payee in the same financial position.

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