Question: Draw a timeline in your notes to practice, then use the one below to help you! A bank loan requires monthly payments of $755 made

Draw a timeline in your notes to practice, then use the one below to help you! A bank loan requires monthly payments of $755 made at the beginning of each month for 5 years. If payments were deferred for 2 years and interest accumulates at 4.2% compounded annually, what was the original value of the loan?

Draw a timeline in your notes to practice, then use the one

Select one: a. $37,514.22 b. $37,774.89 c. $36,645.60 d. $37,573.14

2 years 24 mo 7 years 84 mo today 25 mo 83 mo IY = ? $755 $755 IIIII $755 CY = ? PV1 = ? FV1 PV2 n = ? FV2 = 0 n2 =

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