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Payments of $ 1 , 7 5 0 in 1 year and another $ 2 , 0 0 0 in 4 years to settle a

Payments of $1,750 in 1 year and another $2,000 in 4 years to settle a loan are to be rescheduled with a payment of $950 in 14 months and the balance in 30 months. Calculate the payment required in 30 months for the rescheduled option to settle the loan if money earns 5.85% compounded monthly during the above periods.

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