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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 ?
| $8,355 | ||
| $7,845 | ||
| $8,000 | ||
| $7,641 |
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Finance Introduction To Institutions Investments And Management
Authors: Ronald W. Melicher, Edgar A. Norton
11th Edition
0470004460, 978-0470004463
