How to get the answer of 2896.99

Example 1 Due to the high cost of college or university education, many students apply to the Ontario StudentAssistance Program (OSAP) for a loan to help pay their tuition fees. Students must begin to make payments to repay their loans six months after graduating. Eva finished college six months ago. Her loan payments (PMTL) of $250 are withdrawn at the end of each month from an account that is earning 6.5% interest, compounded monthly. How much must Eva deposit in the account Hide Suggested Answer . today so that the loan payments can be . / withdrawn for one year? _ _ Eva must deposit $2 896.99 In the account today, so that the payments can be withdrawn from her account for one year. Student