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Problem 3.9 John wants to have $800. He may obtain it by promising to pay $900 at the end of one year; or he may

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Problem 3.9 John wants to have $800. He may obtain it by promising to pay $900 at the end of one year; or he may borrow $1,000 and repay $1,120 at the end of the year. If he can invest any balance over $800 at 10% for the year, which should he choose

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