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Q 8.4: Danielle has loaned $500 to Richard at a 4% annual rate of interest for one year. f the inflation rate is constant at

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Q 8.4: Danielle has loaned $500 to Richard at a 4% annual rate of interest for one year. f the inflation rate is constant at 7% for the entire term of the loan, how much purchasing power is lost after Richard repays the loan in full? A $140 B $21.40 C) $36.40 D $15.00

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