A loan of $5000 is taken out today.It is due with interest at j₄ = 8% in 2 years.Instead,the borrower negotiates with the lender to replace this loan with a payment of $2500 in 1-year and another payment of $X in 3-years.If the lender can reinvest any payment at j₂ = 5%,what is the value of X? A)$3038.93 B)$2493.59 C)$3581.68 D)$3395.34

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The Answer of A loan of $5000 is taken out today.It is due with interest at j₄ = 8% in 2 years.Instead,the borrower negotiates with the lender to replace this loan with a payment of $2500 in 1-year and another payment of $X in 3-years.If the lender can reinvest any payment at j₂ = 5%,what is the value of X? A)$3038.93 B)$2493.59 C)$3581.68 D)$3395.34

A Loan of $5000 Is Taken Out Today