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 $2,700 per month for the next three years and then $3,700 per month for the two years after that. If the bank is charging customers 7.00 percent APR, how much would it be willing to lend the business owner?
$48,911.93, $13,860, $ 99,413.92, $ 186,857.38