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Payments of $1,500 in 1 year and another $2,200 in 4 years to settle a loan are to be rescheduled with a payment of $950

Payments of $1,500 in 1 year and another $2,200 in 4 years to settle a loan are to be rescheduled with a payment of $950 in 23 months and the balance in 24 months. Calculate the payment required in 24 months for the rescheduled option to settle the loan if money earns 5.75% compounded monthly during the above periods.

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