A debt of ​$5056.29 is repaid by payments of ​$1135.63 in 6 ​months, ​$1063.87 in 17 ​months, and a final payment in 36 months. If interest was 3% compounded semi-annually, what was the amount of the final​ payment?
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Part 1
Calculate the future value of the money at each​ payment, then subtract each payment on its date. The final future value will be the size of the last payment. First draw a time diagram and label the variables from the question.
Part 2
For compound​ interest, the formula for the future​ value, FV, is given​ below, where PV is the original​ principal, i is the periodic rate of​ interest, and n is the number of compounding periods for the term of the loan or investment.
Part 3
The periodic rate of​ interest, i, can be found using the formula shown​ below, where j is the nominal annual rate of interest and m is the number of compounding​ (conversion) periods per year.
i
Part 4
Identify the values given in the problem statement and determine the periodic rate i.
​$
j
​%
m
  
1.5​%
​(Type an integer or a​ decimal.)
Part 5
The interest​ rate, i​%, written in decimal​ form, is i.
Part 6
Find the future value of the money at the time of the first payment​ (after ​months). Recall that n is the number of compounding periods between the two time periods.
​$
  
5132.13435
​(Round to six decimal places as​ needed.) Show me the steps of how they got to the anwserr of $5132.13435 along the way