Suppose that you are obtaining a personal loan from your uncle in the amount of $30.000 (now)
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Suppose that you are obtaining a personal loan from your uncle in the amount of $30.000 (now) to be repaid in three years to cover some of your college expenses. If your uncle usually earns 9% interest (annually) on his money, which is invested in various sources, what minimum lump-sum payment three years from now would make your uncle happy?
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Charles mwangi
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