# Scheduled loan payments of $1500 due in 6 months and $1900 due in 21 months are rescheduled as a payment of $2000 due in 3 years and a second payment due in 45 months. Determine the size of the second payment if interest is 7% compounded quarterly and the focal date is 45 months from now.

Scheduled loan payments of $1500 due in 6 months and $1900 due in 21 months are rescheduled as a payment of $2000 due in 3 years and a second payment due in 45 months. Determine the size of the second payment if interest is 7% compounded quarterly and the focal date is 45 months from now.

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**Related Book For**

## Contemporary Business Mathematics with Canadian Applications

10th edition

**Authors:** S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

**ISBN:** 978-0133052312