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OOO You need some money today and one of your friend agrees to loan you the money you need only if you make payments of

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OOO You need some money today and one of your friend agrees to loan you the money you need only if you make payments of $100 a month for the next eight months. In addition, he requires that the first payment be paid today. He will charge you 1.5 percent interest per month. How much money are you borrowing? APPROX. $770 APPROX $740 APPROX $750 APPROX. $760

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