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[15 ponts A total debt of $7500 due in 2 years and $2500 due in 6 years is to be repaid in the following way:
[15 ponts A total debt of $7500 due in 2 years and $2500 due in 6 years is to be repaid in the following way: An initial payment now and 3 subsequent annual payments in 3 years, 4 years and 5 years, with each payment being $ 500 more than the previous payment. Interest is at a nominal rate of 4.8% compounded monthly. Find the amount of each payment rounded up to the nearest dollar (A complete answer requires a money-time line and an equation of value.) [15 ponts A total debt of $7500 due in 2 years and $2500 due in 6 years is to be repaid in the following way: An initial payment now and 3 subsequent annual payments in 3 years, 4 years and 5 years, with each payment being $ 500 more than the previous payment. Interest is at a nominal rate of 4.8% compounded monthly. Find the amount of each payment rounded up to the nearest dollar (A complete answer requires a money-time line and an equation of value.)
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