Jon owes three debts:

$500 in one year plus interest at 6% compounded semi-annually,

$2000 due in two years,

$1000 due in three years plus interest at 5% compounded monthly

He wishes to discharge these debts by paying $500 now and two equal but unknown payments in one and two years respectively. Find the size of the equal payments if money is, at present, worth 12% compounded quarterly, using a focal date of 2 years.