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Assume that the annual interest rate is 4% compounded monthly. Ori buys 100 shares of Cogan company, at the market price of $17 per share.
Assume that the annual interest rate is 4% compounded monthly. Ori buys 100 shares of Cogan company, at the market price of $17 per share. For this he borrows the money from the bank. Assume that he sells the shares after five months and a share of the company now worths $S. Find the minimal S for which after five months Ori has enough money to fully pay back his loan to the bank.
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