A $10,000 loan made on January 1 at 7%, is to be repaid by payments of $3,500 on July 1, $3,500 on October 1, and a final payment on January 1 of the next year. What is the amount of the final payment required to pay off the loan in full?

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The Answer of A $10,000 loan made on January 1 at 7%, is to be repaid by payments of $3,500 on July 1, $3,500 on October 1, and a final payment on January 1 of the next year. What is the amount of the final payment required to pay off the loan in full?

A $10,000 Loan Made on January 1 at 7%, Is