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| A lender and a borrower signed a contract for a $1,000 loan for one year. The lender asked the borrower to pay 3% interest. Inflation occurred and prices rose by 2% over the next year. The borrower repaid $1,030. What is the amount worth in real terms, after inflation? A. $1,050.60 B. $1,009.80 C. $1,019.80 D. $1,060.90 |