What is the size of the final payment

Reference no: EM133430548

Question: A demand loan of $3000.00 is repaid by payments of $1500.00 after two years, $1500.00 after four years, and a final payment after eight years. Interest is 8% compounded quarterly for the first two years, 9% compounded annually for the next two years, and 9% compounded semi-annually thereafter. What is the size of the final payment?

The final payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Reference no: EM133430548

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