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Daniel expects to receive $100,000 from an investment four (4) years from today. However, he really needs the money today, and he has decided to

Daniel expects to receive $100,000 from an investment four (4) years from today. However, he really needs the money today, and he has decided to take out a loan. If the interest rate on the loan is 6.5%, how much can Daniel borrow today against the future cash flow that will be generated from the investment?


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