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You are borrowing money today at a 7.5% interest rate. You will repay the principal plus all the interest in one lump sum of S1,700

You are borrowing money today at a 7.5% interest rate. You will repay the principal plus all the interest in one lump sum of S1,700 in two years. What is the amount of the loan proceeds?

A. S1,471.07 B. $6.143.86 C. $1,250.00 D. S1,418.30 E. $1.489.99

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