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You borrow money today at 7.63 percent, compounded annually, and repay the principal and interest in one lump sum of $15,480 two years from today.

You borrow money today at 7.63 percent, compounded annually, and repay the principal and interest in one lump sum of $15,480 two years from today. How much are you borrowing?

A. 16,479 B. 13,363 C. 12,593 D. 15,369 E. 14,563

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