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QUESTION 8 Ronald is borrowing $20.000 using the discount method. His bank is offering him an annual percentage rate of 8.5% and he is taking

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QUESTION 8 Ronald is borrowing $20.000 using the discount method. His bank is offering him an annual percentage rate of 8.5% and he is taking out the loan for one year. Ronald will receive $18,518.52 today and pay $20,000 at the end of the year. True False

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