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1. Suppose you deposit $130 into a bank today, earning 2.5% interest. How much would you have after one year? 2. You expect to have

1. Suppose you deposit $130 into a bank today, earning 2.5% interest. How much would you have after one year?

2. You expect to have $1,000 in one year. A bank is offering loans at 7.0 % interest per year. How much can you borrow today if you plan to use this money to repay the loan? Round to the nearest whole cent.

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