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You need to borrow $1,000 to cover your school expenses for 9 months. After calling severalplaces, you can choose between a money store charging 15%
You need to borrow $1,000 to cover your school expenses for 9 months. After calling severalplaces, you can choose between a money store charging 15% simple interest per year or your family who will charge you 10% per year. How much will you save by borrowing from yourfamily? Round to the nearest cent.
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