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If John takes a single payment discount loan and receives $5,000, What is his Usable Funds amount if he is paying 12% on the loan?

If John takes a single payment discount loan and receives $5,000, What is his Usable Funds amount if he is paying 12% on the loan?

$5,000

$4,000

$4,400

$4,500

None of the Above

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