Three Payments Are Scheduled as Follows: $1,200 Is Due Today

Short Answer

Three payments are scheduled as follows: $1,200 is due today, $900 is due in five months, and $1,500 is due in eight months. The three payments are to be replaced by a single equivalent payment due ten months from now. What should the payment be if money is worth 5.9%? Use ten months from now as the focal date.