Three payments of $4,000 each are overdue to the same creditor by 1.5 years, 1...
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Three payments of $4,000 each are overdue to the same creditor by 1.5 years, 1 year, and 0.5 years. Three future payments of $4,000 each are due in 0.5 years, 1 year, and 1.5 years. Using an interest rate of 5.35% compounded quarterly, the debtor wants to make a single payment of $25,750. When should this payment be made?
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