Problem $5-23$ Present Value of Multiple Annuities $($LG$5-4)$

A small business owner visits her bank to ask for a loan. The owner states that she can repay a loan at $$1,100$ per month for the next three years and then $$2,200$ per month for two years after that. If the bank is charging customers $7\mathrm{.}75$ percent APR, how much would it be willing to lend the business owner?