John, a college student, needs to borrow $5,000 today for his classes. If he agrees to pay back the loan in a lump sum payment, the bank informs John that he will need to pay back $5,012 in five years. 8. Tru F.le John, a college student, needs to borrow $5,000 today for his classes. If he agrees to pay back the loan in a lump sum payment, the bank informs John that he will need to pay back $5,012 in five years. 8. Tru F.le