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(Type C.1) A PLAM loan for 30 years at an annual interest rate of 5% and a balance of $50,000 was made. Suppose inflation increased

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(Type C.1) A PLAM loan for 30 years at an annual interest rate of 5% and a balance of $50,000 was made. Suppose inflation increased by 1% over the first year. What is the new loan balance at the end of the first year

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