A small business owner visits her bank to ask for a loan. The owner states that she can repay a loan at $1,200 per month for the next three years and then $2,400 per month for two years after that. If the bank is charging custorers 8.00 percent APR, how much would
it be willing to lend the business owner?
Note: Do not round intermediate colculations and round your final answer to 2 decimal places.