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7. A total debt of three amounts consists of $3, 210 due at the end of 16 months from now and $2,468 due at the
7. A total debt of three amounts consists of $3, 210 due at the end of 16 months from now and $2,468 due at the end of 2 years from now and $1,987 due at the end of 30 months from now. This total debt is to be repaid by three payments as follows: (i) a first payment of $2,000 made now; (ii) a second payment made at the end of 8 months from now; (iii) a third payment, which is $1,000 less than the second payment, is made 30 months from now. Interest is 4.8% APR, compounding monthly. The amount of the third payment (rounded up to the nearest dollar) is (D) $2,225 (E) $2,140 (A) $2,348 (F) $2,198 (B) $2,299 (C) $2, 128 (G) None of (A) - (F)
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