Ahmet borrows 2000$ at a nominal interest rate of 12% convertible quarterly. He repays the loan completely by making the following payments: (1) 700$ at the end of 4 months (2) 500$ at the end of 14 months (3) R at the end of 18 months Calculate R. a) 1117.96 b) 1064.47 c) 1233.34 d) 1095.14 e)None

Ahmet borrows 2000$ at a nominal interest rate of 12% convertible quarterly. He repays the loan completely by making the following payments: (1) 700$ at the end of 4 months (2) 500$ at the end of 14 months (3) R at the end of 18 months Calculate R. a) 1117.96 b) 1064.47 c) 1233.34 d) 1095.14 e)None Ahmet borrows 2000$ at a nominal interest rate of 12% convertible quarterly. He repays the loan completely by making the following payments: (1) 700$ at the end of 4 months (2) 500$ at the end of 14 months (3) R at the end of 18 months Calculate R. a) 1117.96 b) 1064.47 c) 1233.34 d) 1095.14 e)None