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The following tree shows the possible paths of 1 year (APR, with s.a. compounding) interest rates on loans. (Assume that the probability of an up

The following tree shows the possible paths of 1 year (APR, with s.a. compounding) interest rates on loans. (Assume that the probability of an up move equals the probability of a down moves equals 0.50).

Do not round intermediate calculations. Round your answer to the nearest dollar.

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