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. $89,102.31

b. $89,001.46

c. $88.885.79

d. $88,144.45