I have forgotten what many of these words mean.
If you tell us what you already understand of the question then maybe you will be more likely to get a helpful answer.
Does it mean that you have to pay $1600 total on the 31st July 2023
But if you pay early you will pay less (because less interest is added) so if you pay it out on 30th April you will pay a discounted price.
Mmm, that sounds feasable.
So you are going to pay it out 2 years and 3 months early. That is 11 quarter years
Interest rate per quarter = 9.9% / 4 = 2.475% = 0.02475
\(discounted \;\;amount = $1600*(1-0.02475)^{11}\\ discounted \;\;amount = $1600*(0.97525)^{11}\\ discounted \;\;amount \approx $1600*0.759059\\ discounted \;\;amount \approx 1214.494442\\~\\ discounted \;\;amount \;\;payable \;\;is\;\; $1214.49\\\)
.