1. Iris took out a loan from the bank today for X. She plans to repay this loan by making payments of $970.00 per month for a certain amount of time. If the interest rate on the loan is 1.06 percent per month, she makes her first $970.00 payment later today, and she makes her final monthly payment of $970.00 in 17 months, then what is X, the amount of the loan?

   		An amount less than $15,096.00 or an anmount greater than $18,196.00
   		An amount equal to or greater than $15,096.00 but less than $15,497.00
   		An amount equal to or greater than $15,497.00 but less than $15,903.00
   		An amount equal to or greater than $15,903.00 but less than $16,723.00
   		An amount equal to or greater than $16,723.00 but less than $18,196.00