d = (p r1 (1 + r1)^m r2 (1 + r2)^n)/
 (-r1 + (1 + r2)^n (r1 + (-1 + (1 + r1)^m) r2))

d is the periodic payment
p is the loan amount
r1 is the periodic rate for the first m periods
r2 is the periodic rate for the next n periods

p  = 100,000
r1 = 0.03
m  = 2
r2 = 0.04
n  = 3

pv1 = d/(1 + r1)
pv2 = d/((1 + r1) (1 + r1))
pv3 = d/((1 + r1) (1 + r1) (1 + r2))
pv4 = d/((1 + r1) (1 + r1) (1 + r2) (1 + r2))
pv5 = d/((1 + r1) (1 + r1) (1 + r2) (1 + r2) (1 + r2))

p = ((1 + r1)^-m (1 + r2)^-n (-d r1 +
      d (1 + r2)^n (r1 + (-1 + (1 + r1)^m) r2)))/(r1 r2)

d = (p r1 (1 + r1)^m r2 (1 + r2)^n)/
 (-r1 + (1 + r2)^n (r1 + (-1 + (1 + r1)^m) r2))

∴ d = 22078.67

p  = 1,000,000
r1 = (1 + 0.03)^(1/12) - 1 = 0.00246627
m  = 5*12 = 60
r2 = (1 + 0.04)^(1/12) - 1 = 0.00327374
n  = (25 - 5)*12 = 240

p  = 1,000,000
r1 = 0.03/12 = 0.0025
m  = 5*12 = 60
r2 = 0.04/12 = 0.00333333
n  = (25 - 5)*12 = 240