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A demand loan of $5000 is repaid by payments of $2000 after 2 years, $2000 after 4 years, and a final payment after 6 years.
A demand loan of $5000 is repaid by payments of $2000 after 2 years, $2000 after 4 years, and a final payment after 6 years. Interest is 8% compounded quarterly for the first 2 years, 9% compounded semi annually for the next 2 years, and 9% compounded annually thereafter. What is the size of the final payment?
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