Richard needs to borrow $34,103 and has narrowed his search for a loan to two banks. The first bank offers 67-month simple interest loans at an annual rate of 4.9%. The second bank offers 62-month simple discount loans at an annual rate of 4.9%. Assuming he chooses the bank that will lead to the smaller maturity value, what will the maturity value be?

Round your answer to the nearest dollar.

Answer rating: 100% (QA)

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