4. You borrowed $10,000 on a 10% discounted loan for a period of 8 months. a. What is the loan's discount? b. Determine the net amount of the money you receive. c. What is the loan's actual interest ?
4. You borrowed $10,000 on a 10% discounted loan for a period of 8 months. a. What is the loan's discount? b. Determine the net amount of the money you receive. c. What is the loan's actual interest ?
Chapter16: Working Capital Policy And Short-term Financing
Section: Chapter Questions
Problem 18P
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Answer number 4. Kindly please type the answer not handwritten. Thank you.
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