Jungle Jim owes three debts:$500 due in one year plus interest at 6% compounded semi-annually,$2000 due in two years,$1000 due in three years plus...

Jungle Jim owes three debts:$500 due in one year plus interest at 6% compounded semi-annually,$2000 due in two years,$1000 due in three years plus interest at 5% compounded monthly.He wishes to discharge these debts by paying $500 now and two equalbut unknown payments in one and two years respectively. Find the size of the equal payments if money is, at present, worth 12%compounded quarterly. Use a focal date of two years.