A loan of $4,000 at 7.5% compounded monthly requires three payments of $1,000 at 6, 12, and 18 months after the date of the loan and a final payment of the full balance after 2 years. What is the amount of the final payment?

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The Answer of A loan of $4,000 at 7.5% compounded monthly requires three payments of $1,000 at 6, 12, and 18 months after the date of the loan and a final payment of the full balance after 2 years. What is the amount of the final payment?

A Loan of $4,000 at 7