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Johns Books Inc. wishes to borrow $450,000 today for the purchase of publishing materials. They have an agreement with their commercial banker that they can

Johns Books Inc. wishes to borrow $450,000 today for the purchase of publishing materials. They have an agreement with their commercial banker that they can borrow money at an annual rate of 6.75%. How much will the firm owe if they repay the loan in exactly 1 year?

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