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One year ago, Stan borrowed $10,000 from Susan and agreed to pay the entire amount back today. However, Stan told Susan that he was short
One year ago, Stan borrowed $10,000 from Susan and agreed to pay the entire amount back today. However, Stan told Susan that he was short of funds and offered to pay her $5,000 immediately and another $5,500 in one year. If Susan's required rate of return is eight percent, the total value today of these two payments is
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