Payments of $850 and $1140 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 8¼ %.

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The Answer of Payments of $850 and $1140 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 8¼ %.

Payments of $850 and $1140 Were Scheduled to Be Paid