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2. You are borrowing money today at a 7.5% interest rate. You will repay the principal plus all the interest in one lump sum of

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2. You are borrowing money today at a 7.5% interest rate. You will repay the principal plus all the interest in one lump sum of $7,100 two years from today. What is the amount of the loan proceeds? A. $6,003,47 B. $6,143.86 C. $6,250.00 D. $6,418.30 E. $6,489.99

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