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Bill is considering a $12,000 installment loan. It is a 4-year loan at 5% using the discount method. a. How much cash will Bill receive

Bill is considering a $12,000 installment loan. It is a 4-year loan at 5% using the discount method. a. How much cash will Bill receive from this loan? b. How much should Bill request as the loan amount if he actually needs to receive $12,000 from the lender?

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