Your little sister Tiffany is beginning to cause you some concern. She wants to borrow $480 from you today and promises to pay you $500 in one year. You earn 3% on your deposits. Disregarding what your 9 year-old sister would need $480 for, would this be a good loan for you to make?
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Your little sister Tiffany is beginning to cause you some concern. She wants to borrow $480 from you...
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