Payments of 2600 due 50 days ago and 3100 due in 40 days, Ask an Expert

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Payments of $2600, due 50 days ago, and $3100, due in 40 days, are to be replaced by $3000 today and another payment in 30 days. What must the second payment be if the payee is to end up in an equivalent financial position, Money now earns 8.25% simple interest. Use 30 days from now as the focal date.

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