Sougat borrows Rs. 5586 and undertakes to pay back with compound interest at a rate of \(3\frac{4}{7}{\rm{\% }}\) p.a. in two equal installments at the end of the first and second year. What is the amount of each installment?
1
Rs. 2943.5
2
Rs. 3943.5
3
Rs. 2843.5
4
Rs. 2483.5
5
Rs. 2643.5