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Jacob owes Laverne $230, and wants to repay her. He decides to borrow the amount from his bank at a discount rate of 8%.

Jacob owes Laverne $230, and wants to repay her. He decides to borrow the amount from his bank at a discount rate of 8%. If he borrows the money for 7 months, find the amount of the loan he should ask for so that his proceeds are $230? Maturity = $

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