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Payments of $1,700 in 1 year and another $2,000 in 5 years to settle a loan are to be rescheduled with a payment of
Payments of $1,700 in 1 year and another $2,000 in 5 years to settle a loan are to be rescheduled with a payment of $1,100 in 21 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 6.85% compounded quarterly during the above periods. $0.00 Round to the nearest cent
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