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4.8% of the loan amount. a. What is the net amount of funds from each loan? b. Based on the net amount of funds, what

image text in transcribed 4.8% of the loan amount. a. What is the net amount of funds from each loan? b. Based on the net amount of funds, what is the true interest rate of each loan? a. What is the net amount of funds from each loan? The net amount of funds for option 1 is $ (Round to the nearest dollar.)

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