1. Your friend needs thousandsof dollars to launch his new business. You have agreed to lend him the money today at an interest rate of 6% compounded annually. You require that the loan be repaid in eight annual payments starting at year 3 with a $ 10000 payment, subsequent payment will decrease by$ 1000 each year thereafter.The amount that you lend him, is closest to:

A.$ 36,601

B.$ 38,601

C.$ 37,501

D.$ 37,601