OK. Will do this one next. It is exactly the same idea as the one we just did. We find the PV of $7,000 @ 8% for 3 years and 5 months. 3years X 4=12 quarters + 5 months/3=1 2/3=13 2/3 quarters. We use the same PV formula as the previous example, which comes to $5,340.26
+598 
