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A demand loan of $ 5000.00 is repaid by payment of $2000.00 after 2 yrs, $2000.00 after 4 yrs, and final payment after 7 yrs.
A demand loan of $ 5000.00 is repaid by payment of $2000.00 after 2 yrs, $2000.00 after 4 yrs, and final payment after 7 yrs. Interest of 7% compounded quarterly for the first 2 yrs, 8% compounded semi annually for next 2 yrs, and 8% compounded monthly thereafter. What is the final payment? (Round the final answer tk nearest cent as needed. Round all intermediate value to six decimal places as needed)
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