Question 14:- To pay off a loan of $4000 at j12=7.2%, Ms. Fil agrees to make three payments in 3,7, and 12 months, respectively. The second and third payments are to be double the first. What is the size of first payment? Question 8:- A young couple owns a block of land worth $325 000. They are offered a 20% deposit and 2 equal payments of $150 000 each at the end of years 2 and 4. If money is worth j2 = 4% for the first 2 years and j4 = 6% for the next 2 years, Should they accept the offer