Essay
The face value on a loan is $18,500, the interest is 9.25%, and the time is 18 months. The bank discounted the note at 15% three months before the maturity of the loan. What is the bank discount?
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$790.01; The interest is I = P...View Answer
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Correct Answer:
Verified
$790.01; The interest is I = P...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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