To obtain net loans from gross loans the following items must be subtracted: a. reserve for loan losses b. unearned income c. all loans in arrears d. unearned income and reserve for loan losses   Assume quarterly-payments of $3,000 loan for one year at 8 percent. The APR is a. 8.24 percent b. none of the above c. 10.24 percent d. 12.42 percent   Loans made to closely held firms should have a. collateral b. relationship pricing c. pro-forma statements d. guarantees of the principals

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A: Amount Financed = $18400 Monthly payment = $424.08

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A: THE SOLUTION IS GIVEN IN THE NEXT SHEET.

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A: Given: APR = 8.7% Regular Monthly Payment = $214. Number of payments after Payoff (n) =4

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A: Given: Amount Financed - $18,500 Number of payments Payment = 72 Monthly payment = $426.08 APR = ?

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A:

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