Manny borrows 7400 dollars from Moe at an effective rate of 5.4 percent, and agrees to make 10 equal annual payments (the first a year from now) to repay the loan. Immediately after Manny makes the third payment, Moe sells the loan to Jack at a price that will provide Jack with a yield of 9.1 percent effective. How much does Jack pay for the loan?
Answer = dollars.