You are to repay a loan of $3600.00 with 17 quarterly repayments of $240.00, with the first repayment being one quarter after you took out the loan. Interest is charged at j4 = 7.8390% p.a. One quarter after the last payment of $240.00 you make a partial payment to finish paying off the loan. The size of the partial payment is:

Question 6 options:

1)

$158.38

2)

$220.29

3)

$224.61

4)

$224.47