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Suppose you want to borrow a loan from the bank, but you do not know how much the bank would lend you. Take into consideration
Suppose you want to borrow a loan from the bank, but you do not know how much the bank would lend you. Take into consideration that you can pay $3,755 every month, and you want to take the loan for 5 years. The monthly interest rate is (5%)
Using the provided information determine the present value (PV) , future value (FV) of the bank loan. Use row 9 for your answer.
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