Ben needs cash fast and has asked lucy for a loan

Reference no: EM13906244

Ben needs cash fast and has asked Lucy for a loan. Ben will willing to put up his PlayStation as collateral. Lucy has determined after a quick Internet search that Ben's PlayStation is worth $300. Based on an Experian credit report, Lucy has determined that there is a 50 percent chance that Ben will repay the loan at 10 percent interest. How much should Lucy lend Ben?

$1,500

$750

$300

$500

$1,000

Reference no: EM13906244

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