A payment of

$3,490

was due two years ago, and a payment of

$1,550

is due today. What single payment three years from now would be equivalent to these original payments? Assume that money earns

5.25%

compounded quarterly.\ Include a well-labelled timeline diagram as part of a complete solution.\ Round to the nearest cent

A payment of $3,490 was due two years ago, and a payment of $1,550 is due today. What single payment three years from now would be equivalent to these original payments? Assume that money earns 5.25% compounded quarterly. Include a well-labelled timeline diagram as part of a complete solution. Round to the nearest cent