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Owen expects to receive $24,000 at the end of next year from a trust fund. If a bank loans money at an interest rate of

Owen expects to receive $24,000 at the end of next year from a trust fund. If a bank loans money at an interest rate of 7%, how much money can he borrow from the bank on the basis of this information? OA $22.346 B. $1,776 OC. $25,776 OD. $11,175

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