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You have two debts coming due. One for $6,000 is due 6 months from today and one for $8,000 is due 24 months from today.

You have two debts coming due. One for $6,000 is due 6 months from today and one for $8,000 is due 24 months from today. You have talked to the lender and have agreed upon a new payment plan. You will make a $5,000 payment 12 months from today and pay the remainder 18 months from today. Calculate the size of the final payment if the interest rate is 9% compounded quarterly

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