Question

subject financial maths
5.In 2016, Danny signed an agreement to repay John $4000 in 1.5 years, $2500 in 3 years, and $1500 in 5 years. Unfortunately, he couldn’t make the 1st and second repayments and fortunately, John gave him extensions for both but charged interest. In 2020, Danny approached John and told him that he could make a single payment to settle all 3 debts. Find the size of the single payment if the interest rate is 4.86% p.a. compounded monthly. – 10 marks
Step 1. Draw timeline here: 2 marks

Step 2. Fill in blanks – the values:4 marks

j = ____________; m = ____________; i = ____________; t = ____________;

n = ____________PV = ____________; FV = ____________

Step 3. Formula and Calculation: 4 marks

i dont know thats why m asking here..
pls do fast in which way you want to do
just solve it. thnks

Answer 1