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Question 6. You are borrowing $10,000 for 4 weeks. Interest on the loan is compounded on daily and interest is 15.5% per year. You will

image text in transcribed Question 6. You are borrowing $10,000 for 4 weeks. Interest on the loan is compounded on daily and interest is 15.5% per year. You will pay back the loan at maturity (in 4 weeks) and will make no payments until then. How much will you have to pay back in 4 week? Hint: Assume a 365 day year

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