Multiple Choice
Use the following information for questions
A bank customer is granted credit for a $2,000 loan at 10% to be repaid in 12 equal installments.
-If the loan is a discount loan, what is the monthly payment?
A) $200.00
B) $192.35
C) $184.20
D) $173.12
E) $166.67
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q1: Which regulation requires out-of-state-banks that acquire local
Q2: Which of the following has the lowest
Q3: How do banks use credit-scoring models? If
Q5: The only quantitative measure of a consumer
Q6: The Tax Reform Act of 1986 made
Q7: Credit cards are profitable for banks because
Q8: Today, many banks target individuals as the
Q9: The most important of the five Cs
Q10: Individuals work out a court supervised repayment
Q11: Which of the five Cs refers to