Present Value of Multiple Annuities A small business owner visits his bank to ask for a loan. The owner states that he can repay a loan at $1,500 per month for the next three years and then $2,500 per month for the two years after that. If the bank is charging customers 6.50 percent APR, how much would it be willing to lend the business owner?
$95,144A
$127,772B
$126,000C
$8,190D
Present Value of Multiple Annuities A small business owner visits his bank to ask for a loan. The owner states that he can repay a loan at $1,500 per month for the next three years and then $2,500 per month for the two years after that. If the bank is charging customers 6.50 percent APR, how much would it be willing to lend the business owner?
$95,144A
$127,772B
$126,000C
$8,190D
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