Cheick takes out a loan from Erika. It is agreed that Cheick will pay back the loan in two payments, $$6,200$ after $2$ years and $$7,220$ after $5$ years. Cheick decides he wants to renegotiate the payment schedule so that he has two equal payments at $1$ and $6$ years. What should Cheick's equal payments be$?$ Assume money can earn $3\mathrm{.}6\%$ interest compounded quarterly.

Original Payment Schedule:

Start by calculating the following values on the time diagram for the original payment schedule.

$PV1=$$

$PV2=$$

Total $=$$

:$]$

Reneqotiated Payment Schedule:Now calculate the value of PV$3$ and PV$4$ for the negotiated payment schedule $.$ some of your values maybe jn terms of x and Total value o each payment $,$x$,$ is $ $?$