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 $1,100 per month for the next three years and then $2,100 per month for the two years after that. If the bank is charging customers 6.75 percent APR, how much would it be willing to lend the business owner?
rev: 02_02_2012, 12_17_2015_QC_CS-33412
$6,885
$106,689
$102,000
$74,182