The following three one-year "discount" loans are available to you: Loan A: $145,724 at a 9.0 percent discount rate Loan B: $135,724 at a 8.0 percent discount rate Loan C: $155,724 at a 8.5 percent discount rate (a) Determine the dollar amount of interest you would pay on each loan and indicate the amount of net proceeds each loan would provide. (Round answers to 0 decimal place, e.g. 5275.) Interest Net Proceeds Loan A $ $ Loan B $ $ Loan C $ $ Calculate the percent interest rate or effective cost of each loan. (Round answers to 2 decimal places, e.g. 52.75.) Loan A % Loan B % Loan C % e Textbook and Media Which one has the lowest cost? e Textbook and Media Save for Later Attempts: 0 of 2 used Submit