Question

A person borrows $6548 at 5.3% per annum simple interest. She is to repay the debt with 3 equal payments, the 1st at the end of 3 months, the 2nd at the end of 6 months and the 3rd at the end of 9 months. Determine the size of the payments using the focal date of 9 months

Answer 1

6548 is the answer for this