Question
A $25, 000 loan borrowed today is to be repaid by 3 equal payments due 11 months
from now, 2 year and 5 months from now and 5 years from now. Calculate the size of
each payment if money is worth 3.22 % compounded quarterly.
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A $25, 000 loan borrowed today is to be repaid by 3 equal payments due 11 months from now, 2 year and 5 months from now and 5 years from now. Calculate the size of each payment if money is worth 3.22 % compounded quarterly.

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