Quarterly payments of $675 are required to settle a loan. The interest rate on the loan is 9.6% compounded quarterly. Find the amount of a single payment which will settle the debt on January 1, 2018 given the date of the first payment and the date of the last payment.
a) April 1, 2011 ; October 1, 2016
b) July 1, 2019 ; April 1, 2023
c) January 1, 2005 ; July 1, 2010
Please show the formula and the answer step by step