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What minimum lump-sum payment two years

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Suppose that you are obtaining a personal loan from your uncle in the amount of $20,000 (now) to be repaid in two years to cover some of your college expenses. If your uncle usually earns 8% interest (annually) on his money, which is invested in various sources, what minimum lump-sum payment two years from now would make your uncle happy?

Reference no: EM132503452

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