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er 3 Homework You expect to have $ 1 , 0 0 0 in one year. A bank is offering loans at 1 1 %

3

Homework

You expect to have $

1, 000

in one year. A bank is offering loans at

11 %

interest per year. How much can you borrow today?

Today, you can borrow $

(

Round to the nearest cent.

)

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