Question: Please check my answer ($2901.84) and provide a detailed solution preferably by hand A demand loan of $8000 is repaid by paymengs of $4000 after
A demand loan of $8000.00 is repaid by payments of $4000.00 after two years, 54000.00 after four years, and a final payment after six years. Interest is 8% compounde thereafter. What is the size of the final payment? The final payment is $2901.84 (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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