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Three payments are scheduled as follows: $1100 is due today, $900 is due in five months...

Three payments are scheduled as follows: $1100 is due today, $900 is due in five months and $1500 is due in eight months. The three payments are to be replaced by a single payment due 9 months from now. If money can earn 5.9%, what should the payment be? Use 9 months from now as the focal date. Round to the nearest cent.

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