Payments of $1,500 in 1 year and another $2,600 in 6 years to settle a loan are to be rescheduled with a payment of $1,050 in 18 months and the balance in 30 months. Calculate the payment required in 30 months for the rescheduled option to settle the loan if money earns 4.25% compounded semi-annually during the above periods. Please show work.