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Andrew borrows a certain amount of money now and has to repay it in 4 years time. At the end of year 4 the amount

Andrew borrows a certain amount of money now and has to repay it in 4 years time.

At the end of year 4 the amount to be repaid is $2000.

The effective annual discount rate is 10%.

What is the amount of interest charged at time 2?

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