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Mr. Pitkin bought a farm and promised to pay $7475 in 5 years with 8.5% simple interest and $9400 in 13 years with 11.5% simple

Mr. Pitkin bought a farm and promised to pay $7475 in 5 years with 8.5% simple interest and $9400 in 13 years with 11.5% simple interest. Later, Mr. Pitkin met with the lender requesting to pay $7525 at the end of 3 years and to make a final payment at the end of 10 years. Based on a simple interest rate of 12%, determine the amount required to settle the debt at the end of 10 years.

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