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For some reason i cant get letter c, a and b are correct. You borrow $4000 on a 5% discounted loan for a period of
For some reason i cant get letter c, a and b are correct.
You borrow $4000 on a 5% discounted loan for a period of 6 months. Determine the following: a. the loan's discount. b. the net amount of money you receive c. the loan's actual interest rate, to the nearest tenth of a percent. a. The loan's discount amount is $ 100 Round to the nearest cent.) b. The net amount of money you receive is $ 3900 Round to the nearest cent.) C. The loan's actual interest rate is 5.12% Round to the nearest tenth.)
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