Focal Dates/Single Payment

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A debt can be paid by payments of $2000 scheduled today, $2000 scheduled in three years, and $2000 scheduled in six years. What single payment would settle the debt four years from now if money is worth 2.3% compounded monthly? (Display the scenario on a “timeline” for full marks)
This needs to be able to be done on a calculator, I don't understand how to find what N is equal to. Create a list that outlines the values for N, C/Y-P/Y, I/Y, P.V., and F.V., as well as to show any subsequent calculations.

I do not understand this problem what so ever and I've been at it for days now. I have to do it on a calculator. I cant solve it another way because my teacher wants me to list all of the values. I cannot for the life of me understand how to know what N is equal to.

I have

N=
C/Y, P/Y=12
I/Y=2.3
PV=2000
FV=?
PMT=O

I don't even know if that's correct.

 

[Steven G]

You should not be doing any problem for days or for five minutes if you do not understand it.

Exactly what are you not understanding?

You make a $2,000 payment today, in three years and in 6 years. Do you understand that? Can you figure out how much you borrowed?

You borrowed the amount of money you found above and will pay off the entire debt in 4 years. Do you understand that?

What does N represent?

 

[JeffM]

FIRST, calm down. No one can think in a frenzy.

Second, do you have any idea whether it is 2.3% per year, compoundecd quarterly or 2.3% per quarter.

Third, in present and future value problems, what is the usual meaning of n.