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your friend has a trust fund that will pay him 1,437 at the end of 8 years. Your friend, however, wants his money today. He
your friend has a trust fund that will pay him 1,437 at the end of 8 years. Your friend, however, wants his money today. He promises to sign his trust fund over to you if you give him some money today. You require a 29% interest rate on money you lend to friends. How much would you be willing to lend under thesw terms?
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