please show all work by hand , I want to see the steps taken to solve this . use calculator for final evaluation, but I really want to understand how to solve this problem.

Results for this submission The answer above is NOT correct. Manny borrows 8600 dollars from Moe at an effective rate of 6.7 percent, and agrees to make 10 equal annual payments (the first a year from now) to repay the loan. Immediately after Manny makes the third payment, Moe sells the loan to Jack at a price that will provide Jack with a yield of 8.8 percent effective. How much does Jack pay for the loan? Answer = dollars