How much would be willing to lend under the given terms

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Question: Your friend has a trust fund that will pay him $623 at the end of 6 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 17% interest rate on money you lend to friends. How much would you be willing to lend under these terms?

Reference no: EM131793984

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