Payments of $8,000 due 15 months ago and $6,000 due in six months are to be replaced by a payment of $4,000 today, a second payment in nine months, and a third payment, three times as large as the second, in 1½ years. What should the last two payments be if money is worth 6.4% compounded quarterly?

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The Answer of Payments of $8,000 due 15 months ago and $6,000 due in six months are to be replaced by a payment of $4,000 today, a second payment in nine months, and a third payment, three times as large as the second, in 1½ years. What should the last two payments be if money is worth 6.4% compounded quarterly?

Payments of $8,000 Due 15 Months Ago and $6,000 Due