A small business owner visits his bank to ask for a loan. The owner states that he can repay a loan at $2,400 per month for the next three years and then $1,400 per month for two years after that. If the bank is charging customers 10.75 percent APR, how much would it be willing to lend the business owner? Note: Do not round intermediate calculations and round your final answer to 2 decimal places. Why is do you use 1000$ instead of the $2400? does it have to do with the APR?