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) $21 500
C) $15 000
D) $18 605
Correct Answer:
Verified
Correct Answer:
Verified
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