Your friend has a trust fund that will pay him 1005 at the, Financial Management

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Your friend has a trust fund that will pay him 1005 at the

Your friend has a trust fund that will pay him $1,005 at the end of 5 years. Your friend, however, wants his money today. He promises to sign his trust fund over to you if you give him some money today. You require a 26% interest rate on money you lend to friends. How much would you be willing to lend under these terms?

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