Question

Mr. Pitkin bought a farm and promised to pay $6400 in 5 years with 7.75% simple interest and $10200 in 13 years with 10.5% simple interest. Later, Mr. Pitkin met with the lender requesting to pay $6450 at the end of 3 years and to make a final payment at the end of 10 years. Based on a simple interest rate of 16.5%, determine the amount required to settle the debt at the end of 10 years.