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Nicholas agreed to pay a financial institution $2,800 at the beginning of each month over a 3 year period, with the first payment due immediately.

 

Nicholas agreed to pay a financial institution $2,800 at the beginning of each month over a 3 year period, with the first payment due immediately. Assuming the interest rate on the loan is 3.6%, what is the present value of the loan?  Round answer to the nearest whole dollar.  Do not use a negative sign with your answer

 



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