Question

A debt of k3000 is due 6years from now, is instead to be paid off by three installments k500 now, k1500 in three years and a final payment at the end of 5 years. What would this payment be if interest of 6%compounded annually is assumed

Answer 1

$((((3000-500)*1.06-500)*1.06-500)*1.06-1500)*1.06*1.06-x=0$

$x=433.42$