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Posted on Sep 23, 2024

You expect to have $ 1 comma 0 0 0 $ 1 , 0 0 0 in one year. A bank is offering loans at

You expect to have $

1

comma

000

1, 000

in one year. A bank is offering loans at

5.5 % 5.5 %

interest per year. How much can you borrow

today?

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