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A demand loan of $4000.00 is repaid by payments of $1500.00 after two years, $1500.00 after four years, and a final payment after eight years.
A demand loan of $4000.00 is repaid by payments of $1500.00 after two years, $1500.00 after four years, and a final payment after eight years. Interest is 5% compounded semi-annually for the first two years, 6% compounded annually for the next two years, and 6% compounded semi-annually thereafter. What is the size of the final payment?
The final payment is $
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