Jessica will be receiving $3,600 five years from now. Her desire is to get a loan today and then repay it in one lump sum when she receives her funds. What is the maximum loan Jessica can get
Today if the bank charges 8.5% interest?
A) $2,357.10
B) $2,394.16
C) $2,416.36
D) $2,433.86
E) $2,501.08
Correct Answer:
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