Jada obtained a loan from a credit union. The maturity value of the six-year term loan is $38,955.50. She was charged an interest rate of 2.41% compounded annually in the first 2 years of the loan, 2.62% compounded semi-annually in the next two years, and 2.95% compounded monthly in the last two years of the loan. She also made payments of $2000 in the second and fourth year, respectively. Calculate the amount that Jada borrowed.

AppendixLO1