Multiple Choice
A bank lends money using a simple discount rate d = 8%.If John needs $10,000 today and will repay the loan in 8 months,what loan amount should he request?
A) $10,800.00
B) $10,533.33
C) $10,563.38
D) $9,466.67
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q78: Interest of $300 is charged on a
Q79: A $12,000 short term loan was taken
Q80: A merchant issues a promissory note.The note
Q81: A 182-day T-Bill with a face value
Q82: Bob purchases a new smart phone for
Q84: What is the price of a $100,000
Q85: How long will it takes $4000 to
Q86: A debt of $3000 is due in
Q87: What simple interest rate,r,is Jim being charged
Q88: A payment of $5000 that was due