An amount of $2012 is borrowed at a discount interest rate of 7% and the length of the loan is 4 months. Then the discount amount will be: O 105.63 O 46.95 O 25.82 O 70.42 O 11.74

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 19E
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21)
An amount of $2012 is borrowed at a discount
interest rate of 7% and the length of the loan is 4
months. Then the discount amount will be:
O 105.63
46.95
O 25.82
O 70.42
O 11.74
Transcribed Image Text:An amount of $2012 is borrowed at a discount interest rate of 7% and the length of the loan is 4 months. Then the discount amount will be: O 105.63 46.95 O 25.82 O 70.42 O 11.74
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