Scheduled payments of $225 due ago and $1449 due in four

Last updated: 7/22/2022

Scheduled payments of $225 due ago and $1449 due in four years are to be replaced by two equal payments. The first replacement payment is due in two years and the second payment is due in nine years. Determine the size of the two replacement payments if interest is 7.2% compounded quarterly and the focal date is two years from now.