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Assume that the interest rate is 4% compounded monthly. Roy buys 100 shares of Moogle company, at the market price of $30 per share. For

Assume that the interest rate is 4% compounded monthly. Roy buys 100 shares of Moogle company, at the market price of $30 per share. For this he borrows the money from the bank. Assume that after six months he sells the shares for a price of $S per share. Find the minimal S for which Roy has enough money to fully pay back his loan to the bank.te

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