Nature of Mathematics (MindTap Course List)
13th Edition
ISBN: 9781133947257
Author: karl J. smith
Publisher: Cengage Learning
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Textbook Question
Chapter 11.7, Problem 13PS
In Problems 12-15, match each formula in Column A with the type of financial problem in Column B.
| Column A | Column B | |
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Amortization |
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Scenario 1: Start working with a $10,000 bonus and then have your boss pay you 10,000 for 3 full weeks including weekends.
Scenario 2: Start working with a savings account with a .25 cents in it and your boss double it each day for 3 full weeks including weekends.
Question 1: Calculate each scenario individually.
Question 2: Calculate the total sum collected by both scenarios at the end of the 3 weeks. Clearly identify the value in each account at the end of 3 weeks. (Hint: Create a table of values for both functions and then add.)
1. State the appropriate formulae used in solving (i) and (ii) of this questions below.
a. Determine how many rows are in the corner section of a stadium containing 3920 seats if the first row has 10 seats and each successive row has 6 additional seats?
b. A new machine was purchased for $45,000. For tax purposes, the company depreciates the value by 5% annually. Determine the value of the value of the machine after 7 years of use?
Problem 16.16
Jeff makes payments at the end of each year into an account for 10 years.
The present value of Jeff's payments is 5,000. Ryan makes a payment equal
to Jeff's payment at the beginning of each year for 11 years into the same
account. The present value of Ryan's payments is 5,900.
Calculate the amount of Jeff's payment.
Chapter 11 Solutions
Nature of Mathematics (MindTap Course List)
Ch. 11.1 - IN YOUR OWN WORDS What is interest?Ch. 11.1 - Prob. 2PSCh. 11.1 - Prob. 3PSCh. 11.1 - Prob. 4PSCh. 11.1 - Prob. 5PSCh. 11.1 - Prob. 6PSCh. 11.1 - Use estimation to select the best response in...Ch. 11.1 - Prob. 8PSCh. 11.1 - Prob. 9PSCh. 11.1 - Level 1 Use estimation to select the best response...
Ch. 11.1 - Prob. 11PSCh. 11.1 - Level 1 Use estimation to select the best response...Ch. 11.1 - Prob. 13PSCh. 11.1 - Use estimation to select the best response in...Ch. 11.1 - In Problems 15-18, calculate the amount of simple...Ch. 11.1 - Prob. 16PSCh. 11.1 - In Problems 15-18, calculate the amount of simple...Ch. 11.1 - Prob. 18PSCh. 11.1 - In problems 19-24, find the future value, using...Ch. 11.1 - Prob. 20PSCh. 11.1 - In problems 19-24, find the future value, using...Ch. 11.1 - In problems 19-24, find the future value, using...Ch. 11.1 - In problems 19-24, find the future value, using...Ch. 11.1 - In problems 19-24, find the future value, using...Ch. 11.1 - In problem 25-28, find the present value, using...Ch. 11.1 - Prob. 26PSCh. 11.1 - Prob. 27PSCh. 11.1 - In Problems2528 , find the present value, using...Ch. 11.1 - If 12,000 is invested at 4.5 for 20 years, find...Ch. 11.1 - If 34,500 is invested at 6.9 for 30 years, find...Ch. 11.1 - Find the total amount that must be repaid on the...Ch. 11.1 - Find the total amount that must be repaid on the...Ch. 11.1 - Prob. 33PSCh. 11.1 - Prob. 34PSCh. 11.1 - Compound interest Treasury notes authorized in...Ch. 11.1 - Prob. 36PSCh. 11.1 - Find the cost of each item in 5 years, assuming an...Ch. 11.1 - Find the cost of each item in 10 years, assuming...Ch. 11.1 - What is the future value after 15 years if you...Ch. 11.1 - Prob. 40PSCh. 11.1 - Suppose you see a car with an advertised price of...Ch. 11.1 - Suppose you see a car with an advertised price of...Ch. 11.1 - Suppose you buy a home and finance 285,000 at...Ch. 11.1 - Suppose you buy a home and finance 170,000 at...Ch. 11.1 - Find the cost of a home in 30 years, assuming an...Ch. 11.1 - Find the cost of the monthly rent for a...Ch. 11.1 - Suppose that an insurance agent offers you a...Ch. 11.1 - If a friend tells you she earned 5,075 interest...Ch. 11.1 - If John wants to retire with 10,000 per month, how...Ch. 11.1 - Prob. 50PSCh. 11.1 - In Problems 51-54, calculate the time necessary to...Ch. 11.1 - In problem 5154 , calculate the time necessary to...Ch. 11.1 - Prob. 53PSCh. 11.1 - Prob. 54PSCh. 11.1 - Prob. 55PSCh. 11.1 - HISTORICAL QUEST On August 8, 1981, American...Ch. 11.1 - Suppose that 1,000 is invested at 7 interest...Ch. 11.1 - Prob. 58PSCh. 11.1 - Prob. 59PSCh. 11.1 - Prob. 60PSCh. 11.2 - IN YOUR OWN WORDS What is add-on interest?Ch. 11.2 - Prob. 2PSCh. 11.2 - Prob. 3PSCh. 11.2 - IN YOUR OWN WORDS Discuss the methods of...Ch. 11.2 - Prob. 5PSCh. 11.2 - Prob. 6PSCh. 11.2 - Prob. 7PSCh. 11.2 - Use estimation to select the best response in...Ch. 11.2 - Prob. 9PSCh. 11.2 - Prob. 10PSCh. 11.2 - Prob. 11PSCh. 11.2 - Prob. 12PSCh. 11.2 - If you purchase an item for 1,295 at an interest...Ch. 11.2 - Prob. 14PSCh. 11.2 - Prob. 15PSCh. 11.2 - Prob. 16PSCh. 11.2 - Use estimation to select the best response in...Ch. 11.2 - Prob. 18PSCh. 11.2 - Prob. 19PSCh. 11.2 - Prob. 20PSCh. 11.2 - Prob. 21PSCh. 11.2 - Prob. 22PSCh. 11.2 - Prob. 23PSCh. 11.2 - Prob. 24PSCh. 11.2 - Prob. 25PSCh. 11.2 - Prob. 26PSCh. 11.2 - Prob. 27PSCh. 11.2 - Prob. 28PSCh. 11.2 - Convert each credit card rate in Problems 25-30 to...Ch. 11.2 - Convert each credit card rate in Problems 25-30 to...Ch. 11.2 - EXERCISES Calculate the monthly finance charge for...Ch. 11.2 - Prob. 32PSCh. 11.2 - EXERCISES Calculate the monthly finance charge for...Ch. 11.2 - EXERCISES Calculate the monthly finance charge for...Ch. 11.2 - EXERCISES Round your answers in Problem 3538 to...Ch. 11.2 - EXERCISES Round your answers in Problem 3538 to...Ch. 11.2 - EXERCISES Round your answers in Problem 3538 to...Ch. 11.2 - EXERCISES Round your answers in Problem 3538 to...Ch. 11.2 - EXERCISES Find the APRrounded to the nearest tenth...Ch. 11.2 - Prob. 40PSCh. 11.2 - Prob. 41PSCh. 11.2 - EXERCISES Find the APRrounded to the nearest tenth...Ch. 11.2 - EXERCISES a. Assume the cars in Problems4346can be...Ch. 11.2 - EXERCISES a. Assume the cars in Problems4346can be...Ch. 11.2 - Assume the cars in Problems 43-46 can be purchased...Ch. 11.2 - Assume the cars in Problems 43-46 can be purchased...Ch. 11.2 - A payday loan provides short-term loans ranging...Ch. 11.2 - A payday loan provides short-term loans ranging...Ch. 11.2 - Prob. 49PSCh. 11.2 - A payday loan provides short-term loans ranging...Ch. 11.2 - For each of the car loans described in Problems...Ch. 11.2 - For each of the car loans described in Problems...Ch. 11.2 - For each of the car loans described in Problems...Ch. 11.2 - For each of the car loans described in Problems...Ch. 11.2 - EXERCISES A car dealer carries out the following...Ch. 11.2 - Prob. 56PSCh. 11.2 - Prob. 57PSCh. 11.2 - Prob. 58PSCh. 11.2 - Karen and Wayne need to buy a refrigerator because...Ch. 11.2 - Rule of 78 With a typical installment loan, you...Ch. 11.3 - IN YOUR OWN WORDS What is a sequence, and what do...Ch. 11.3 - Prob. 2PSCh. 11.3 - Prob. 3PSCh. 11.3 - Prob. 4PSCh. 11.3 - Prob. 5PSCh. 11.3 - Prob. 6PSCh. 11.3 - Prob. 7PSCh. 11.3 - In Problems 5-30, a. Classify the sequences as...Ch. 11.3 - Prob. 9PSCh. 11.3 - Prob. 10PSCh. 11.3 - Prob. 11PSCh. 11.3 - Prob. 12PSCh. 11.3 - Prob. 13PSCh. 11.3 - In Problems 5-30, a. Classify the sequences as...Ch. 11.3 - Prob. 15PSCh. 11.3 - Prob. 16PSCh. 11.3 - Prob. 17PSCh. 11.3 - Prob. 18PSCh. 11.3 - In Problems 5-30, a. Classify the sequences as...Ch. 11.3 - Prob. 20PSCh. 11.3 - Prob. 21PSCh. 11.3 - Prob. 22PSCh. 11.3 - Prob. 23PSCh. 11.3 - Prob. 24PSCh. 11.3 - Prob. 25PSCh. 11.3 - Prob. 26PSCh. 11.3 - Prob. 27PSCh. 11.3 - Prob. 28PSCh. 11.3 - Prob. 29PSCh. 11.3 - In Problems 530, a. Classify the sequence as...Ch. 11.3 - Prob. 31PSCh. 11.3 - Prob. 32PSCh. 11.3 - In problems 31-46, a. Find the first three terms...Ch. 11.3 - Prob. 34PSCh. 11.3 - Prob. 35PSCh. 11.3 - Prob. 36PSCh. 11.3 - Prob. 37PSCh. 11.3 - Prob. 38PSCh. 11.3 - Prob. 39PSCh. 11.3 - Prob. 40PSCh. 11.3 - Prob. 41PSCh. 11.3 - Prob. 42PSCh. 11.3 - Prob. 43PSCh. 11.3 - Prob. 44PSCh. 11.3 - Prob. 45PSCh. 11.3 - Prob. 46PSCh. 11.3 - Prob. 47PSCh. 11.3 - Prob. 48PSCh. 11.3 - Prob. 49PSCh. 11.3 - Prob. 50PSCh. 11.3 - Prob. 51PSCh. 11.3 - Find the requested terms in Problem 4756. Find the...Ch. 11.3 - Prob. 53PSCh. 11.3 - Prob. 54PSCh. 11.3 - Prob. 55PSCh. 11.3 - Prob. 56PSCh. 11.3 - Prob. 57PSCh. 11.3 - Prob. 58PSCh. 11.3 - Prob. 59PSCh. 11.3 - Fill in the blanks so that _,8,_,_,27,_, is a. an...Ch. 11.4 - IN YOUR OWN WORDS Distinguish a sequence from a...Ch. 11.4 - Prob. 2PSCh. 11.4 - Prob. 3PSCh. 11.4 - Prob. 4PSCh. 11.4 - Find the requested value in the Problems 5-10. S5...Ch. 11.4 - Prob. 6PSCh. 11.4 - Prob. 7PSCh. 11.4 - Prob. 8PSCh. 11.4 - Prob. 9PSCh. 11.4 - Prob. 10PSCh. 11.4 - Evaluate the expression in problem 11-18. 11....Ch. 11.4 - Prob. 12PSCh. 11.4 - Prob. 13PSCh. 11.4 - Evaluate the expression in problem 11-18. 14....Ch. 11.4 - Prob. 15PSCh. 11.4 - Evaluate the expression in problem 11-18. 16....Ch. 11.4 - Prob. 17PSCh. 11.4 - Prob. 18PSCh. 11.4 - Prob. 19PSCh. 11.4 - Prob. 20PSCh. 11.4 - Prob. 21PSCh. 11.4 - Prob. 22PSCh. 11.4 - Prob. 23PSCh. 11.4 - Prob. 24PSCh. 11.4 - Prob. 25PSCh. 11.4 - Prob. 26PSCh. 11.4 - Prob. 27PSCh. 11.4 - Prob. 28PSCh. 11.4 - Prob. 29PSCh. 11.4 - Prob. 30PSCh. 11.4 - Prob. 31PSCh. 11.4 - Find the sum of the first 100 even positive...Ch. 11.4 - Prob. 33PSCh. 11.4 - Prob. 34PSCh. 11.4 - Prob. 35PSCh. 11.4 - Find the sum of the first n positive integers.Ch. 11.4 - Prob. 37PSCh. 11.4 - Find the sum of the first 50 term of the...Ch. 11.4 - Prob. 39PSCh. 11.4 - Prob. 40PSCh. 11.4 - The game of pool uses 15 balls numbered from 1to15...Ch. 11.4 - Prob. 42PSCh. 11.4 - Prob. 43PSCh. 11.4 - The game of pool uses 15 balls numbered from 1to15...Ch. 11.4 - Prob. 45PSCh. 11.4 - Prob. 46PSCh. 11.4 - How may blocks would be needed to build a stack...Ch. 11.4 - Repeat Problem 47 if the bottom row has 87 blocks.Ch. 11.4 - Prob. 49PSCh. 11.4 - The initial swing of the tip of a pendulum is 25...Ch. 11.4 - Prob. 51PSCh. 11.4 - 52. A rotating flywheel is allowed to slow to a...Ch. 11.4 - Prob. 53PSCh. 11.4 - A tennis ball is dropped from a height of 10 ft....Ch. 11.4 - A culture of bacteria increase by 100 every 24...Ch. 11.4 - Prob. 56PSCh. 11.4 - How many games are necessary for a two team...Ch. 11.4 - Prob. 58PSCh. 11.4 - Prob. 59PSCh. 11.4 - Prob. 60PSCh. 11.5 - IN YOUR OWN WORDS What do we mean by a lump-sum...Ch. 11.5 - IN YOUR OWN WORDS Why should we call an annuity a...Ch. 11.5 - Prob. 3PSCh. 11.5 - Prob. 4PSCh. 11.5 - IN YOUR OWN WORDS Distinguish an annuity problem...Ch. 11.5 - Prob. 6PSCh. 11.5 - Use a calculator to evaluate an ordinary annuity...Ch. 11.5 - Prob. 8PSCh. 11.5 - Prob. 9PSCh. 11.5 - Prob. 10PSCh. 11.5 - Use a calculator to evaluate an ordinary annuity...Ch. 11.5 - Prob. 12PSCh. 11.5 - Prob. 13PSCh. 11.5 - Prob. 14PSCh. 11.5 - Prob. 15PSCh. 11.5 - Prob. 16PSCh. 11.5 - Prob. 17PSCh. 11.5 - Prob. 18PSCh. 11.5 - Prob. 19PSCh. 11.5 - Prob. 20PSCh. 11.5 - Prob. 21PSCh. 11.5 - Prob. 22PSCh. 11.5 - In problems 2334, find the value of each of the...Ch. 11.5 - Prob. 24PSCh. 11.5 - In problems 2334, find the value of each of the...Ch. 11.5 - Prob. 26PSCh. 11.5 - In problems 2334, find the value of each of the...Ch. 11.5 - In problems 2334, find the value of each of the...Ch. 11.5 - Prob. 29PSCh. 11.5 - Prob. 30PSCh. 11.5 - Prob. 31PSCh. 11.5 - Prob. 32PSCh. 11.5 - Prob. 33PSCh. 11.5 - Prob. 34PSCh. 11.5 - Find the amount of periodic payment necessary for...Ch. 11.5 - Prob. 36PSCh. 11.5 - Find the amount of periodic payment necessary for...Ch. 11.5 - Prob. 38PSCh. 11.5 - Prob. 39PSCh. 11.5 - Find the amount of periodic payment necessary for...Ch. 11.5 - Prob. 41PSCh. 11.5 - Prob. 42PSCh. 11.5 - Prob. 43PSCh. 11.5 - Prob. 44PSCh. 11.5 - Find the amount of periodic payment necessary for...Ch. 11.5 - Prob. 46PSCh. 11.5 - Self-employed persons can make contributions for...Ch. 11.5 - The owner of Sebastopol Tree Farm deposits 650 at...Ch. 11.5 - The owner of Oak Hill Squirrel Farm deposits 1,000...Ch. 11.5 - Clearlake Optical has a 50,000 note that comes due...Ch. 11.5 - A business must raise 70,000 in 5 years. What...Ch. 11.5 - A lottery offers a 1,000,000 prize to be paid in...Ch. 11.5 - A lottery offers a 1,000,000 prize to be paid in...Ch. 11.5 - John and Rosamond want to retire in 5 years and...Ch. 11.5 - In 2012 the maximum Social Security deposit by an...Ch. 11.5 - You want to retire at age 65. You decide to make a...Ch. 11.5 - Prob. 57PSCh. 11.5 - Prob. 58PSCh. 11.5 - Clearlake Optical has developed a new lens. The...Ch. 11.5 - The owners of Bardoza Greeting Cards wish to...Ch. 11.6 - IN YOUR OWN WORDS What does amortization mean?Ch. 11.6 - Prob. 2PSCh. 11.6 - Prob. 3PSCh. 11.6 - Prob. 4PSCh. 11.6 - Use a calculator to evaluate the present value of...Ch. 11.6 - Use a calculator to evaluate the present value of...Ch. 11.6 - Prob. 7PSCh. 11.6 - Prob. 8PSCh. 11.6 - Prob. 9PSCh. 11.6 - Prob. 10PSCh. 11.6 - Use a calculator to evaluate the present value of...Ch. 11.6 - Prob. 12PSCh. 11.6 - Prob. 13PSCh. 11.6 - Prob. 14PSCh. 11.6 - Prob. 15PSCh. 11.6 - Use a calculator to evaluate the amortization...Ch. 11.6 - Prob. 17PSCh. 11.6 - Prob. 18PSCh. 11.6 - Prob. 19PSCh. 11.6 - Prob. 20PSCh. 11.6 - Prob. 21PSCh. 11.6 - Prob. 22PSCh. 11.6 - Prob. 23PSCh. 11.6 - Prob. 24PSCh. 11.6 - Prob. 25PSCh. 11.6 - Prob. 26PSCh. 11.6 - Prob. 27PSCh. 11.6 - Prob. 28PSCh. 11.6 - Prob. 29PSCh. 11.6 - Prob. 30PSCh. 11.6 - Prob. 31PSCh. 11.6 - Find the present value of the ordinary annuities...Ch. 11.6 - Find the monthly payment for the loans in Problems...Ch. 11.6 - Find the monthly payment for the loans in Problems...Ch. 11.6 - Prob. 35PSCh. 11.6 - Find the monthly payment for the loans in Problems...Ch. 11.6 - Prob. 37PSCh. 11.6 - Find the monthly payment for the loans in Problems...Ch. 11.6 - Prob. 39PSCh. 11.6 - Prob. 40PSCh. 11.6 - Find the monthly payment for the loans in Problems...Ch. 11.6 - Find the monthly payment for the loans in Problems...Ch. 11.6 - Find the monthly payment for the loans in Problems...Ch. 11.6 - Find the monthly payment for the loans in Problems...Ch. 11.6 - How much interest to the nearest dollar would be...Ch. 11.6 - How much interest to the nearest dollar would be...Ch. 11.6 - Melissa agrees to contribute 500 to the alumni...Ch. 11.6 - Arnie agrees to contribute 2,500 to the road fund...Ch. 11.6 - Prob. 49PSCh. 11.6 - Prob. 50PSCh. 11.6 - Prob. 51PSCh. 11.6 - Prob. 52PSCh. 11.6 - I recently found a real-life advertisement in the...Ch. 11.6 - Prob. 54PSCh. 11.6 - Suppose your gross monthly income is 5,500 and...Ch. 11.6 - Prob. 56PSCh. 11.6 - Prob. 57PSCh. 11.6 - Prob. 58PSCh. 11.6 - Suppose your gross monthly income is 4,550 and...Ch. 11.6 - Suppose you want to purchase a home for 425,000...Ch. 11.7 - IN YOUR OWN WORDS What are a reasonable down...Ch. 11.7 - Prob. 2PSCh. 11.7 - IN YOUR OWN WORDS Outline a procedure for...Ch. 11.7 - Prob. 4PSCh. 11.7 - Prob. 5PSCh. 11.7 - Prob. 6PSCh. 11.7 - Classify the term of financial problem for the...Ch. 11.7 - Classify the term of financial problem for the...Ch. 11.7 - Prob. 9PSCh. 11.7 - Classify the term of financial problem for the...Ch. 11.7 - Classify the type of financial formula for the...Ch. 11.7 - In Problems 12-15, match each formula in Column A...Ch. 11.7 - In Problems 12-15, match each formula in Column A...Ch. 11.7 - In Problems 12-15, match each formula in Column A...Ch. 11.7 - In Problems 12-15, match each formula in Column A...Ch. 11.7 - Classify the financial problems in Problems 16-19,...Ch. 11.7 - Classify the financial problems in Problems 16-19,...Ch. 11.7 - Classify the financial problems in Problems 16-19,...Ch. 11.7 - Classify the financial problems in Problems 16-19,...Ch. 11.7 - In Problems 20-52: a. State the type; and b....Ch. 11.7 - In Problems 20-52: a. State the type; and b....Ch. 11.7 - In Problems 20-52: a. State the type; and b....Ch. 11.7 - In Problems 20-52: a. State the type; and b....Ch. 11.7 - In Problems 20-52: a. State the type; and b....Ch. 11.7 - In Problems 20-52: a. State the type; and b....Ch. 11.7 - In Problems 20-52: a. State the type; and b....Ch. 11.7 - In Problems 20-52: a. State the type; and b....Ch. 11.7 - In Problems 20-52: a. State the type; and b....Ch. 11.7 - Prob. 29PSCh. 11.7 - Prob. 30PSCh. 11.7 - Prob. 31PSCh. 11.7 - Prob. 32PSCh. 11.7 - Prob. 33PSCh. 11.7 - In Problems 20-52: a. State the type; and b....Ch. 11.7 - Prob. 35PSCh. 11.7 - In Problems 20-52: a. State the type; and b....Ch. 11.7 - Prob. 37PSCh. 11.7 - In Problems 20-52; a. State the type; and b....Ch. 11.7 - In Problems 20-52; a. State the type; and b....Ch. 11.7 - In Problems 20-52; a. State the type; and b....Ch. 11.7 - Prob. 41PSCh. 11.7 - Prob. 42PSCh. 11.7 - Prob. 43PSCh. 11.7 - In Problems 20-52; a. State the type; and b....Ch. 11.7 - Prob. 45PSCh. 11.7 - In Problems 20-52; a. State the type; and b....Ch. 11.7 - In Problems 20-52; a. State the type; and b....Ch. 11.7 - In Problems 20-52; a. State the type; and b....Ch. 11.7 - In Problems 20-52; a. State the type; and b....Ch. 11.7 - In Problems 20-52; a. State the type; and b....Ch. 11.7 - In Problems 20-52. a. State the type; and b....Ch. 11.7 - In Problems 20-52. a. State the type; and b....Ch. 11.7 - Problems 5355 are based on a 30-year fixed-rate...Ch. 11.7 - Problems 5355 are based on a 30-year fixed-rate...Ch. 11.7 - Problems 5355 are based on a 30-year fixed-rate...Ch. 11.7 - Problems 56-58 are based on a 30-year fixed-rate...Ch. 11.7 - Problems 56-58 are based on a 30-year fixed-rate...Ch. 11.7 - Problems 56-58 are based on a 30-year fixed-rate...Ch. 11.7 - A contest offers the winner 50,000 now or 10,000...Ch. 11.7 - In 1982 the inflation rate hit 16. Suppose that...Ch. 11.CR - Prob. 1CRCh. 11.CR - Prob. 2CRCh. 11.CR - Prob. 3CRCh. 11.CR - Prob. 4CRCh. 11.CR - Prob. 5CRCh. 11.CR - Prob. 6CRCh. 11.CR - Prob. 7CRCh. 11.CR - Prob. 8CRCh. 11.CR - Prob. 9CRCh. 11.CR - Prob. 10CRCh. 11.CR - Prob. 11CRCh. 11.CR - Prob. 12CRCh. 11.CR - Prob. 13CRCh. 11.CR - Prob. 14CRCh. 11.CR - Prob. 15CRCh. 11.CR - Prob. 16CRCh. 11.CR - Prob. 17CRCh. 11.CR - Prob. 18CRCh. 11.CR - Prob. 19CRCh. 11.CR - Prob. 20CR
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