Suppose you borrowed $15,000 for 3 years to buy a car You agreed to pay interest on the loan at a rate of 5 percent If inflation rate over the three years of your loan ends up being 7 percent, then the real value of what you end up paying for the car is a) 18,376 b) 17,364 FV PV (1 r) 15,000 X (1 ...

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Suppose you borrowed $15,000 for 3 years to buy a car. You agreed to pay interest...

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Suppose you borrowed $15,000 for 3 years to buy a car. You agreed to pay interest on the loan at a rate of 5

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Suppose you borrowed $15,000 for 3 years to buy a car. You agreed to pay interest...

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