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Today you are borrowing money from your local bank the loan

Today, you are borrowing money from your local bank. The loan is to be repaid in one lump sum payment of $15,000 one year from now. How much money are you borrowing today if the APR is 10.6 percent?

A. $11,899.48

B. $12,550.00

C. $13,562.39

D. $13,762.14

E. $14,037.97

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