Question: (Present Value) A small construction company plans to expand its operations by applying for a loan from the bank. Now he sets an interest rate

(Present Value) A small construction company plans to expand its operations by applying for a loan from the bank. Now he sets an interest rate of 1% per month and insists that the debt must be paid in a maximum of 24 months. The company estimates that it can commit to repaying the debt in payments of $ 1,500 a month. How much is the most you can ask the bank for?

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