A loan is to be repaid by $1,000 in one year and $1,500 in three years. The borrower has asked to repay $1,000 in two years and a final payment in three years. If money can earn 8% compounded quarterly, what is the size of the final payment?

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The Answer of A loan is to be repaid by $1,000 in one year and $1,500 in three years. The borrower has asked to repay $1,000 in two years and a final payment in three years. If money can earn 8% compounded quarterly, what is the size of the final payment?

A Loan Is to Be Repaid by $1,000 in One