Business, 04.01.2020 04:31 GOOBER3838

An investor took out a loan of 150,000 at 8% compounded quarterly, to be repaid over 10 years with quarterly payments of 5483.36 at the end of each quarter. after 12 payments, the interest rate dropped to 6% compounded quarterly. the new quarterly payment dropped to 5134.62. after 20 payments in total, the interest rate on the loan increased to 7% compounded quarterly. the investor decided to make an additional payment of x at the time of his 20th payment. after the additional payment was made, the new quarterly payment was calculated to be 4265.73, payable for five more years. determine x.

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An investor took out a loan of 150,000 at 8% compounded quarterly, to be repaid over 10 years with q...