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You just borrowed money from your credit Union with the following terms. 2 years from today, you will payback $2,381, in 7 years from today,
You just borrowed money from your credit Union with the following terms. 2 years from today, you will payback $2,381, in 7 years from today, you will receive $1,011 from your credit union on the same loan, and in 13 years from today you will pay the bank $16,714 which is the remaining balance on the loan. If the interest rate is 4.65% p.a., find the size of the loan you will receive from the bank today
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