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Lena has decided to start her own business. Her uncle has agreed to loan her some start up funds.He will loan her $25,000.She will not
Lena has decided to start her own business. Her uncle has agreed to loan her some start up funds.He will loan her $25,000.She will not have to pay any money back over the next five years but five years from now, she will pay him back with 8% compound interest.What amount will she owe her uncle in five years?
Please show step by step. It is a time value of money question.
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