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Home Remodeling Company borrowed $136,500 from Corner Bank & Trust to pay for materials and labor for a new warehouse. Corner Bank lent the money
Home Remodeling Company borrowed $136,500 from Corner Bank & Trust to pay for materials and labor for a new warehouse. Corner Bank lent the money at 3.2 percent above the prime rate of 6.25 percent. The loan is ordinary interest for 90 days. What is the maturity value of the loan?
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