Loan payments of $1,500 due in one year and $1,900 due in two years are to be replaced by two payments. The first replacement payment $X is due in three years and the second replacement payment of $2,000 is due in four years. Determine the size of the first replacement payment sx if interest is 7% p.a. compounded quarterly and the focal date is three years from now (Year 3). Answer the following questions, and choose the closest answer from the possible choices following each question: Choose Choose If the focal date is at year 3, which TVM variable does the payment of $1,500 represent? If the focal date is at year 3, which TVM variable does the replacement payment of $2,000 represent? If you need to use the formula approach to find the focal date value manually, what value of "n" should you apply to the second replacement payment of $2,000? What periodic interest rate do you use if you need to solve this question manually using the formula approach? (Express in percentage with 4 decimal places or 0001%) If you need to use the formula approach to find the focal date value manually, what value of n should you apply to the first loan payment of $1,500? Choose Choose Choose Your answer for 5X at the focal date is Choose Loan payments of $1,500 due in one year and $1,900 due in two years are to be replaced by two payments. The first replacement payment $X is due in three years and the second replacement payment of $2,000 is due in four years. Determine the size of the first replacement payment sx if interest is 7% p.a. compounded quarterly and the focal date is three years from now (Year 3). Answer the following questions, and choose the closest answer from the possible choices following each question: Choose Choose If the focal date is at year 3, which TVM variable does the payment of $1,500 represent? If the focal date is at year 3, which TVM variable does the replacement payment of $2,000 represent? If you need to use the formula approach to find the focal date value manually, what value of "n" should you apply to the second replacement payment of $2,000? What periodic interest rate do you use if you need to solve this question manually using the formula approach? (Express in percentage with 4 decimal places or 0001%) If you need to use the formula approach to find the focal date value manually, what value of n should you apply to the first loan payment of $1,500? Choose Choose Choose Your answer for 5X at the focal date is Choose