the answer is 678.60

Arif lends $8,000 to Haziq. Haziq agrees to pay it back in 10 annual installments at 7% with the first payment due in one year. After making 4 payments, Haziq renegotiates to pay o the debt with 4 additional annual payments. The new payments are calculated so that Arif will get a 6.5% annual yield over the entire 8-year period. Determine how much money Haziq saved by renegotiating. {678.60)