Payments of $1,550 in 1 year and another $2,200 in 4 years to settle a loan are to be rescheduled with a payment of $800 in 24 months and the balance in 30 months. Calculate the payment required in 30 months for the rescheduled option to settle the loan if money earns 3.2% compounded semi-annually during the above periods. Round to the nearest cent

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