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Payments of $ 1 , 6 0 0 in 1 year and another $ 2 , 5 0 0 in 6 years to settle a

Payments of $1,600 in 1 year and another $2,500 in 6 years to settle a loan are to be rescheduled with a payment of $950 in 19 months and the balance in 25 months. Calculate the payment required in 25 months for the rescheduled option to settle the loan if money earns 4.75% compounded monthly during the above periods.
Round to the nearest cent
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