A loan of $150,000 is to be repaid by two equal repayments of X. One repayment is due at the end of 2 years, the second repayment is due at the end of 6 years. The interest rate is at 4% p.a. compounded quarterly for the first 3 years and then 4.4% p.a. compounded quarterly thereafter. What is the size of each repayment?

Select one:

a. $88.885.79

b. $89,102.31

c. $88,144.45

d. $89,001.46

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