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1.Mary owes June $750, and wants to pay her off. She decides to borrow the amount from her bank at a discount rate of 16%.

1.Mary owes June $750, and wants to pay her off. She decides to borrow the amount from her bank at a discount rate of 16%. If she borrows the money for 10 months, find the amount of the loan she should ask for so that her proceeds are $750?

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