A Loan of $A Is to Be Repaid Over 5

A loan of $A is to be repaid over 5 years with quarterly payments of $600 (1^st payment 3 months from now) .The interest rate on the loan is j₄ = 8% for the first 3 years and j₄ = 6% thereafter.What is the value of A?

A) $10,836.76
B) $10,220.67
C) $10,101.89
D) $9,886.77