Raquel initially borrowed $7,100 from Tangerine Bank at 3.12% compounded quarterly. After 3 years she repaid $3,408, then 5 years after the $7,100 was initially borrowed she repaid $2,485. If she pays off the debt 9 years after the $7,100 was initially borrowed, how much should her final payment be to clear the debt completely? Round all answers to two decimal places if necessary. P/Y = C/Y = N = I/Y = % PV = $ PMT = $ FV = $

Amount owed after 3 years = $ (enter a positive value) Amount owed after the first payment of $3,408 (enter a positive value): $

P/Y = C/Y = N = I/Y = % PV = $ PMT = $ FV = $

Amount owed after 5 years = $ (enter a positive value)

quiz 2 question 2

Amount owed after the second payment of $2,485 (enter a positive value): $

P/Y = C/Y = N = I/Y = % PV = $ PMT = $ FV = $ Final payment (after 9 years); (enter a positive value) $