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Danny recently borrowed $30,000 from the Eicher Credit Union with the loan repayments specified at $1,000 payable at the end of each month for the

Danny recently borrowed $30,000 from the Eicher Credit Union with the loan repayments specified at $1,000 payable at the end of each month for the next 3 years. He has annual earnings of $75,000 which are likely to remain constant over the next 3 years. Calculate Danny's purchasing power for each of the next 3 years.

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