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Your bank has agreed to grant you a discount loan with an APR of 4.25%. If you need $8,000 today, how large is the face
Your bank has agreed to grant you a discount loan with an APR of 4.25%. If you need $8,000 today, how large is the face value of the loan?
| $7,641 |
| $8,000 |
| $8,355 |
| $7,845 |
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Mathematics For Business
Authors: Stanley A Salzman, Charles D Miller, Gary Clendenen
8th Edition
0321357434, 9780321357434
