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A loan of $900,000 is taken out which requires an annual interest payment of 5.9% of the borrowed amount of money (in market dollars). No

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A loan of $900,000 is taken out which requires an annual interest payment of 5.9% of the borrowed amount of money (in market dollars). No principal payments are made, only interest is paid. Inflation is 3% per year. What will be the value of interest payment at the end of fourth year in real dollars

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