Two Payments of $1,000 Now and $3,000 in 6 Months

Multiple Choice

Two payments of $1,000 now and $3,000 in 6 months are to be replaced by $2,500 in 4 months and another in 9 months. If the rate of interest is 6.3% annually, determine the value of the final payment in 9 months if the focal point is in 9 months.

A) $1,532.67
B) $1,528.875
C) $1,502.65
D) $1,498.13
E) $1,486.86