A borrower is under an obligation to repay a bank 6,280 in 4 years' time, 8,460 in 7 years' time, and 7,350 in 13 years' time. As part of a review of his future commitments the borrower now offers either (a) To discharge his liability for these three debts by making an appropriate single payment 5 years from now, or (b) To repay the total amount owed (i.e., 22,090) in a single payment at an appropriate future time. On the basis of a constant force of interest per annum of = ln 1.08, find the appropriate single payment if offer (a) is accepted by the bank, and the appropriate time to repay the entire indebtedness if offer (b) is accepted. A borrower is under an obligation to repay a bank 6,280 in 4 years' time, 8,460 in 7 years' time, and 7,350 in 13 years' time. As part of a review of his future commitments the borrower now offers either (a) To discharge his liability for these three debts by making an appropriate single payment 5 years from now, or (b) To repay the total amount owed (i.e., 22,090) in a single payment at an appropriate future time. On the basis of a constant force of interest per annum of = ln 1.08, find the appropriate single payment if offer (a) is accepted by the bank, and the appropriate time to repay the entire indebtedness if offer (b) is accepted