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How much did Chrysler borrow from Prudential Insurance in 1954 to pay for expansion and updated car designs?

  • $250 million

  • $500 million

  • $1 billion

  • $2 billion

Answer

In 1954, Chrysler borrowed $250 million from Prudential Insurance to pay for expansion and updated car designs. This move was part of an effort to compete with growing rivals GM and Ford.
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