Problem
John is planning on repaying a debt of $25,000 with a quarterly payment $1,200 for the next 23 quarters and a final payment of "X" dollars at the end of 24-th quarter. If the interest rate is 12% per year, compounded quarterly, what will be John's final payment?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.