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You expect to have $ 6 comma 0 0 0 in one year. A bank is offering loans at 9 % interest per year. How
You expect to have $ comma in one year. A bank is offering loans at interest per year. How much can you borrow today?
a How much would you have in one year if you deposited the $instead
b How much money could you borrow today if you pay the bank $ in one year?
c Should you loan the money to your friend or deposit it in the bank?
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