Discount loan. Up-Front Bank uses discount loans for all its customers who want one-year loans. Currently, the bank is p

Business, Finance, Economics, Accounting, Operations Management, Computer Science, Electrical Engineering, Mechanical Engineering, Civil Engineering, Chemical Engineering, Algebra, Precalculus, Statistics and Probabilty, Advanced Math, Physics, Chemistry, Biology, Nursing, Psychology, Certifications, Tests, Prep, and more.
Post Reply
answerhappygod
Site Admin
Posts: 899603
Joined: Mon Aug 02, 2021 8:13 am

Discount loan. Up-Front Bank uses discount loans for all its customers who want one-year loans. Currently, the bank is p

Post by answerhappygod »

Discount Loan Up Front Bank Uses Discount Loans For All Its Customers Who Want One Year Loans Currently The Bank Is P 1
Discount Loan Up Front Bank Uses Discount Loans For All Its Customers Who Want One Year Loans Currently The Bank Is P 1 (57.29 KiB) Viewed 31 times
Discount loan. Up-Front Bank uses discount loans for all its customers who want one-year loans. Currently, the bank is providing one-year discount loans at 8.4%. What is the effective annual rate on these loans? If you were required to repay $230,000 at the end of the loan for one year, how much would the bank have given you at the start of the loan? If you were required to repay $230,000 at the end of the loan for one year, how much would the bank have given you at the start of the loan? $ (Round to the nearest dollar.)
Join a community of subject matter experts. Register for FREE to view solutions, replies, and use search function. Request answer by replying!
Top
Post Reply

Return to “Archived Questions & Answers”