Question: (2 points) (Exercise 5.3) A loan is being repaid by quarterly installments of 2000 at the end of each quarter at 11.8% convertible quarterly. If

(2 points) (Exercise 5.3) A loan is being repaid by quarterly

(2 points) (Exercise 5.3) A loan is being repaid by quarterly installments of 2000 at the end of each quarter at 11.8% convertible quarterly. If the loan balance at the end of the third year is $22725.63, find the original loan amount. ANSWER = $ 30148.66

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