You had an agreement to pay $4075 in 2 years from now and $6725 in 5 years from now. What single payment would pay off this debt in one year from now if money earns 7.1% compounded quarterly?

rate is 4.2% compounded monthly! (A 2. You had an agreement to pay $4,075 in 2 years from now and $6,725 in 5 years from now. What single payment would pay off this debt in one year from now if money carns 7.1% compounded quarterly? (Ans: $8,873.05)