A loan of $8,000 is to be repaid by three payments of $1,500 in one year, and two other payments in two and four years after the date of the loan. The second payment is to be twice that of the third payment. If interest is 4.8% compounded quarterly, what is the size of the last two payments?

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The Answer of A loan of $8,000 is to be repaid by three payments of $1,500 in one year, and two other payments in two and four years after the date of the loan. The second payment is to be twice that of the third payment. If interest is 4.8% compounded quarterly, what is the size of the last two payments?

A Loan of $8,000 Is to Be Repaid by Three