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You borrow money today at 6.65 percent, compounded quarterly, and repay the principal and interest in one lump sum of $12,800 two years from today.

You borrow money today at 6.65 percent, compounded quarterly, and repay the principal and interest in one lump sum of $12,800 two years from today. How much are you borrowing?

A. $12,401.16

B. $11,218.21

C. $10,211.16

D. $9,900.00

E. $11,253.52

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