Question 3 2 pts You have a loan outstanding. It requires making three annual payments of $1000 each at the end of the next three years. Your bank has offered to allow you to skip making the next two payments and instead to make one large payment at the end of the loan's term in three years. The interest rate on the loan is 5%. What final payment will the bank require you to make so that the bank is indifferent between the two forms of payment?

You have a loan outstanding. It requires making three annual payments of $1000 each at the end of the next three years. Your bank has offered to allow you to skip making the next two payments and instead to make one large payment at the end of the loan's term in three years. The interest rate on the loan is 5%. What final payment will the bank require you to make so that the bank is indifferent between the two forms of payment