3 suppose that to cover some of your college expenses you are obtainin
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3. Suppose that, to cover some of your college expenses, you are obtaining a personal loan from your uncle in the amount of $25,000 (now) to be repaid in two years.
If your uncle could earn 8% interest (compounded annually) on his money invested in various sources, what minimum lump-sum payment two years from now would make your uncle happy economically?