You want to borrow some money from your parents to help, Financial Management

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You want to borrow some money from your parents to help

You want to borrow some money from your parents to help with your university costs. You can only afford to repay them $250 per month over the next 4 years starting exactly thirteen months from today. How much can you afford to borrow today if the interest rate your parents propose is 4% per annum compounded monthly (rounded to the nearest dollar)?

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Financial Management: You want to borrow some money from your parents to help

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