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Credit reduces future income. The disposable income from your part-time job in 2013 and 2014 is $12,000. In 2013, you borrowed $500 at 18% interest.

Credit reduces future income. The disposable income from your part-time job in 2013 and 2014 is $12,000. In 2013, you borrowed $500 at 18% interest. You repaid your loan with interest in 2014. How much would you have available for spending in 2014?

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