Jack is a small business owner seeking a loan at the local The Bank. If Jack is able to make loan repayment payments of $1,100 a month for the first 2 years (starting next month) and $500 a month for the following two years, how much will The Bank be willing to lend him if it charges a 5.5% APR?
Show answer using FINANCIAL CALCULATOR INPUTS (PV, FV, PMT, I, N) PV= PMT= N= I/Y= FV=?=
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