a. Suppose a farmer borrowed $1000 for one year at an interest rate of 8%. At the time that the money was borrowed, the price of a bushel of corn was $0.40. The farmer expected that the price of corn would rise 5% over the course of the loan. In terms of corn, how much did the farmer borrow
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a. Suppose a farmer borrowed $1000 for one year at an interest rate of 8%. At the time that the mone...
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