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Sylvia borrows $10,500 on August 25 and promises to make three equal payments, one on...

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Accounting

Sylvia borrows $10,500 on August 25 and promises to make three equal payments, one on October 15, one on December 10, and one on February 28. If money is worth 9.75% simple interest, what is the size of the equal payments? Use August 25 as the focal date

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