QUESTION 1 TIME VALUE of MONEY (5 marks) A total debt of $ 1,000 due now, $4000 due 2 years from now, and $6000 due 5 years from now is to be repaid by 3 payments. (1) The first payment is made now. (2) The second payment, which is 80% of the first, is made at the end of 30 months from now. (3) The third payment, which is 60% of the second, is made at the end of 4 years from now. The annual interest rate is 4%, compounded semi-annually. Calculate the amount of each of the three payments. A timeline is required for full points