You want to borrow $$10,000\mathrm{.}00.$ You figure that you can make the following payments: If the interest rate on the loan is $8\mathrm{.}9\%$ per year, will your payments be enough to pay off the $$10,000\mathrm{.}00$ loan?

The present value of your payments is $ ITS NOT $10,000\mathrm{.}00.($Round to the nearest cent.$)$

Data table

$($Click on the following icon $$ in order to copy its contents into a spreadsheet.$)$

$\backslash$table$[[$Year$,1,2,3,4],[$Payment$,$$$2,110,$$$2,940,$$$3,480,$$$3,812$