A company takes out a loan. The loan is $10000 and has an annual effetive interest rate of 5.82%. you are given (a) the loan is to be repaid with no annual payments of $1200 per year plus a payment k which is paid at year n+1; (b) the first payment is due 3 years after the loan is taken out. Determine the number of 1200 payments n and K.

I have 1200a (angle n at i = 0.0582) v^3 + Kv(n+1) = 10000.

Is this correct? Or should I be dicounting a different number of years for the first chunk of the equation??