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Suppose that you are obtaining a personal loan from your uncle in the amount of $20,000 (now) to be repaid in two years to cover
Suppose that you are obtaining a personal loan from your uncle in the amount of
$20,000 (now) to be repaid in two years to cover some of your college expenses.
If your uncle usually earns 8% interest (annually) on his money, which is invested
in various sources, what minimum lump-sum payment two years from now would
make your uncle happy?
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