Below, I have a cash flow chart showing the loan received ($30000) at the beginning, and three equal payments (amount we want to know [x on chart]), based on their period, for reimbursement of loan:
- First payment at the end of first year;
- Second payment at the end of third year;
- and last payment at end of sixth year.
Using different interest rates on periods:
- 5% for the first two years;
- 3% for next three years;
- and 8% for final year.
Using software like Excel or Numbers, how to calculate equal payments based on different interest rates?