Four years ago John borrowed $3000 from Arlette The principal with interest at 10 compounded semiannually is to be repaid six years from the date of the loan Fifteen months ago, John borrowed another $1500 for 3 years at 9 compounded quarterly John is now proposing to settle both debts with two equal payments to be made and 3 years from now What should the payments be if money now earns 8 compounded quarterly

Question: Four years ago John borrowed $3000 from Arlette. The principal with interest at 10% compounded semiannually is to be repaid six years from the date

Four years ago John borrowed $3000 from Arlette. The principal with interest at 10% compounded semiannually is to be repaid six years from the date of the loan. Fifteen months ago, John borrowed another $1500 for 3 ½ years at 9% compounded quarterly. John is now proposing to settle both debts with two equal payments to be made and 3 ½ years from now. What should the payments be if money now earns 8% compounded quarterly?

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