Payments of $7,000 120 Days Ago and $3,000 90 Days

Multiple Choice

Payments of $7,000 120 days ago and $3,000 90 days ago are to be replaced by $4,500 60 days from now and a final payment 240 days from now. If interest is 5.95% annually, determine the value of the final payment.

A) $4,851.61
B) $4,926.86
C) $5,424.38
D) $5,727.60
E) $5,940.14