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Megan's dad is ready to lend her money at 3.6% interest per year for 3 years of college; however he would like Megan to pay
Megan's dad is ready to lend her money at 3.6% interest per year for 3 years of college; however he would like Megan to pay him $1,000 a year at the end of each year. Megan thinks that on getting her first job after 3 years she will get a joining bonus of $11,000. She would like to borrow as much money as possible from her dad that can be paid off with the bonus amount. How much should she borrow?
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