Payments of $850 and $1,140 were scheduled to be paid today and nine months from now, respectively. What total payment today would place the payee in the same financial position as the scheduled payments? Money can earn 8.25%.

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The Answer of Payments of $850 and $1,140 were scheduled to be paid today and nine months from now, respectively. What total payment today would place the payee in the same financial position as the scheduled payments? Money can earn 8.25%.

Payments of $850 and $1,140 Were Scheduled to Be Paid