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A loan of $ A is to be repaid over 5 years with quarterly payments of $ 6 0 0 ( 1 st payment 3

A loan of $ A is to be repaid over 5 years with quarterly payments of $600(1st payment 3 months from now). The interest rate on the loan is j4=8% for the first 3 years and j4=6% thereafter. What is the value of A?
a
$10,836.76
b
$10,220.67
c
$10,101.89
d
$9,886.77

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