Question 1196128
**1. Find the Present Value of Paul's Current Debt**

* **Calculate the Present Value of R1000 due in 3 years:**
    * **Quarterly Interest Rate:** 18% per annum / 4 quarters = 4.5% per quarter 
    * **Number of Quarters:** 3 years * 4 quarters/year = 12 quarters
    * **Present Value:** R1000 / (1 + 0.045)^12 = R1000 / 1.71 = R584.79

* **Calculate the Present Value of R8000 due in 5 years:**
    * **Number of Quarters:** 5 years * 4 quarters/year = 20 quarters
    * **Present Value:** R8000 / (1 + 0.045)^20 = R8000 / 2.4117 = R3317.79

* **Total Present Value of Debt:** R584.79 + R3317.79 = R3902.58

**2. Set Up the Equation for the Rescheduled Debt**

* **Present Value of x due in 1 year:** x / (1 + 0.045)^4 
* **Present Value of 2x due in 5 years:** 2x / (1 + 0.045)^20 

* **Equation:**
    * x / (1 + 0.045)^4 + 2x / (1 + 0.045)^20 = R3902.58

**3. Solve for x**

* **Simplify the equation:**
    * x / 1.1925 + 2x / 2.4117 = R3902.58
    * 0.8386x + 0.8295x = R3902.58
    * 1.6681x = R3902.58

* **Calculate x:**
    * x = R3902.58 / 1.6681 
    * x ≈ R2338.69

**4. Calculate the Second Payment**

* 2x = 2 * R2338.69 = R4677.38

**Therefore, Paul's rescheduled payments will be:**

* **R2338.69 due in one year**
* **R4677.38 due in five years**

**Note:** These calculations assume that the interest rate remains constant at 18% per annum compounded quarterly throughout the entire period.