Question 50 1/1 pts LO1 You take out a loan for $7,000. To repay the loan you make 3 equal payments in years 1, 2 and 3. In addition, you make 3 equal payments in years 4, 5 and 6. The payments in years 4,5 and 6 are 5% bigger than the payments in years 1,2 and 3. If interest rates are 3% APR, compounded annually, how big are the payments? 1,292 years 1,2,3 AND $1,357 years 3,4,5 $1,451 years 1,2,3 AND $1,524 years 3,4,5 $1,262 years 1,2,3 AND $1,325 years 3,4,5 1,350 years 1,2,3 AND $1,418 years 3,4,5 1,199 years 1,2,3 AND $1,259 years 3,4,5