Give us some more information.
Your cousin Ray borrows 1400 dollars now, repays 850 dollars in two years, and then borrows 1000 dollars in another three years, all at nominal rates of interest of 7.3 percent convertible quarterly. Your other cousin Jay borrows 1550 dollars t years from now at the same interest rate. If the present value of both of your cousin's debts is the same, what is t? (Assume compound interest at all times.)
