Mathematics, 07.04.2021 22:50 19alexanderetha
4.
In a discount loan the interest is paid up front. For example, a loan of $100 for one year with an APR of 8%
would result in interest of $8. Therefore, the amount of money you would receive is $92.
Stephen takes out a discount loan of $7500 for 3 years with an APR of 9%.
a.
How much interest does Stephen pay on the loan?
a.
What amount does Stephen receive?
I
Calculate the loans actual APR if it was a regular simple interest over time loan.
a
Answers: 2
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4.
In a discount loan the interest is paid up front. For example, a loan of $100 for one year with...
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