Debts of $2800

Multiple Choice

Debts of $2800.00 due three months from now, $3500 due 15 months and $4600.00 due twenty-one months from now are to be settled by two equal payments due in three months and nine months from now respectively. Determine the size of the equal replacement payments if interest is 5.5% p.a. compounded quarterly.

A) $5450.00
B) $5176.03
C) $5246.71
D) $10 352.05
E) $10 900.00