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Your brother owes you $1000 and agreed to pay you back at the end of three years with 7% interest compounded annually. Instead, he has

Your brother owes you $1000 and agreed to pay you back at the end of three years with 7% interest compounded annually.

Instead, he has offered to repay you $1500 (the total of the principal and interest) if you are willing to wait until the end of the fifth year.

Which option will you agree to, and why? Show all calculations.

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