Business, 10.07.2019 05:30, ameera1973

Claire has borrowed $\$5,\! 000$. she plans to pay off the loan in full after two payments. she will make one payment 3 years from now, then another payment 6 years from now. the second payment will be exactly double the amount of the first payment. how much is the first payment if the interest rate of the loan is $8.5\%$, compounded annually? express your answer as a dollar value rounded to the nearest cent.

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Claire has borrowed $\$5,\! 000$. she plans to pay off the loan in full after two payments. she will...