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A finance company uses the discount method of calculating interest. The loan principal is $5,000, the interest rate is 10%, and repayment is expected
A finance company uses the discount method of calculating interest. The loan principal is $5,000, the interest rate is 10%, and repayment is expected in two years. You will receive 4196.25 X from the lender. Round to the nearest cent. DO NO Done
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When a finance company uses the discount method for calculating interest the interest is deducted from the loan principal before the borrower receives ...
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Finance Applications and Theory
Authors: Marcia Cornett, Troy Adair
3rd edition
1259252221, 007786168X, 9781259252228, 978-0077861681
