Multiple Choice
Owen expects to receive $20,000 at the end of next year from a trust fund.If a bank loans money at an interest rate of 7.5%,how much money can he borrow from the bank on the basis of this information?
A) $11,428
B) $15,000
C) $18,605
D) $21,500
E) $20,000
Correct Answer:
Verified
Correct Answer:
Verified
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