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You owe your parents $22,000 (in present day dollars) and want to repay them in equal amounts the first to occur in 3 years from

You owe your parents $22,000 (in present day dollars) and want to repay them in equal amounts the first to occur in 3 years from today and the other in 7 years from today. If the interest rate is 6.1% per annum compounding monthly, what will be the amount of each repayment?

Select one:

a. $14802

b. $26407

c. $33683

d. $26277

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